Proforma income statement the marketing more of Marine Maturing states that its sein wilt 51.2 million Interesteer is expected to remain unched a 540,000, we mpw to pay 53.000 in cash divided during 2020 Metroline Marincome statement for the younded December 31, 2010, en morgwth and of the cost of goods sold and operating experts to the fixed and variante compro a. Use the percent of sales method to prepare a proforma income statement for the yow ended December 31, 2000 b. Use fred and variable cost data to develop a proforma income statement for the yewended December 31, 2020 c. Compare and contrast the statements developed in parts and b. Which statement probly provides the botter estimate of 2000 income? Explain why Use the percent of sales method to prepare a proforma income statement for the yew ended December 31, 2000 Complete the proforma income statement for the year ended December 31, 2020 below (Round the percentage of sales to four decimal places and the proforma income statement amounts to the nearest dolar) Pro Forma Income Statement Metroline Manufacturing, Inc. for the Year Ended December 31, 2020 (percent-of-sales method) Sales $ Less: Cost of goods sold Gross proto $ Pro forma income statement The marketing department of Metro Manufacturing estimates that its sales in 2020 will be $162 milion Interest expense is expected to remain unchanged at $10,000, and the firm par to pay $73,000 in cash dividends during 2020. Metroline Manufacturing come statement for the year ended December 31, 2019, is gvon along with a breedown of the firm's cost of goods sold and operating expenses into their fixed and variable components a. Use the percent of sales method to prepare a proforma come statement for the year ended December 31, 2020 b. Use fixed and anable cost data to develop a proforma income statement for the year anded December 31, 2020 c. Compare and contrast the statements developed in parts a and b. Which statement probably provides the bestimate of 2020 income? Explain why $ Sales Less Cost of goods sold Gross profits Less: Operating expenses Operating profits $ $ $ Net profits before ces Loss Taxes Net profits her taxes $ Proforma income statement The marketing department of Metre Mandatingsites that its es in 2020 will be $162 Interest is expected to remain unchanged at $40.000, and the firm par to pay $73,000 in cash dividends during 2020 Metro Man's income statement for the year ended December 31, 2019 is given Wong with a brown of the cost of goods and get the fed and are comprens Use the percent of a method to prepare a proforma income statement for the year ended December 31, 2020 b. Une faxed and cont des to develop a proforma income statement for the year ended December 31, 2020 c. Compare and contrast the statements developed in parts and b. Wichter by provides the better estimate of 2020 income? Explan why Less Cash dividende To retained 5 bed Pro Forma Income Satament Metroline Manufacturing, Inc. for the Year Ended December 11, 2020 Thased and and variable costat S Le Cost of goods Fored cost Vasco Grosso S ! Less Operating expenses Fixed expense Variable expense Operating profits Los interest expense Net profits before taxes Less Taxes Net profits after taxes Less Cash dividends s $ To remedang 5 c. Compare and contrast the statements developed in parts and which statement probably provides the better estimate of 2020 income? Explain wy (Select from the drop-down menus) The proforma income statement deving the food and the cost projects netrones de to cost of goods sold and operating experson though the percent of sales method projects a more estimate of net profitere the proforma income statement classifies fixed rate costi 2 c. Compare and contrast the statements developed in parts and b. Which statement probably provides the bestimate of 2020 income? Explain why (Select from the drop-down menus The proforma income statement developed using the red and cont de projects yet profiter det cost of goods sold and coating expenses. Although the percent of sal methods estimate of where the moment that and variable costa Enter any number in the edities and then continue to the next to 10:40 c. Compare and contrast the statements developed in parts and Which ten probly provides the better estimate of 2020 income? Explain why Select the dood mous) The proforma income statement developed using the fired and variable cost dit projects net protes due to cost of goods and operating expenses. Although the proses method projects amore estimate of regrottes, the proforma come statement that classified and are costis higher Enter any number in the edit fields and then contine to the next question lower Compare and contrast the statements developed in parts and b. Which statement probably provides the better estimate of 2020 income? Explain why Select from the down) The proforma income statement developed using the fixed and variable cont data projects are profit after taxes due to cost of goods sold and opening expenses. Although the percent of sales met estimate of net profit after taxes, the proforma income statement that classifies fixed and variable costs a more accurate Entrar conservative fields and then continue to the next question agresive Compare and contrast the statements developed in parts and b. Which statement probably provides the better estimate of 2020 income? Explain why Select from the drop down) The proforma income statement developed using the food and variable cost dat projects a net profiter taxes de to cost of goods sold and operating expenses Although the percent of method projects a more estimate of net profit after taxes, the proforma income statement that classes fored and variable costis ace Enter any number in the edit fields and then continue to the next question os Data Table (For Breakdown of Costs and Expenses, click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Metroline Manufacturing Metroline Manufacturing Income Statement Breakdown Costs and Expenses for the Year Ended December 31, 2019 into Fixed and Variable Components Sales revenue $1,395,000 for the Year Ended December 31, 2019 Less: Cost of goods sold 912,000 Cost of goods sold Gross profits $483,000 Fixed cost $209,000 Less: Operating expenses 113,000 Variable cost 703.000 Operating profits $370,000 Total cost $912,000 Less: Interest expense 40,000 Operating expenses Net profits before taxes $330,000 Fixed expenses $39,000 Less: Taxes (rate= 40%) 132,000 Variable expenses 74,000 Net profits after taxes $198.000 Total expenses $113,000 Less: Cash dividends 65,000 To retained earnings $133.000 Proforma income statement the marketing more of Marine Maturing states that its sein wilt 51.2 million Interesteer is expected to remain unched a 540,000, we mpw to pay 53.000 in cash divided during 2020 Metroline Marincome statement for the younded December 31, 2010, en morgwth and of the cost of goods sold and operating experts to the fixed and variante compro a. Use the percent of sales method to prepare a proforma income statement for the yow ended December 31, 2000 b. Use fred and variable cost data to develop a proforma income statement for the yewended December 31, 2020 c. Compare and contrast the statements developed in parts and b. Which statement probly provides the botter estimate of 2000 income? Explain why Use the percent of sales method to prepare a proforma income statement for the yew ended December 31, 2000 Complete the proforma income statement for the year ended December 31, 2020 below (Round the percentage of sales to four decimal places and the proforma income statement amounts to the nearest dolar) Pro Forma Income Statement Metroline Manufacturing, Inc. for the Year Ended December 31, 2020 (percent-of-sales method) Sales $ Less: Cost of goods sold Gross proto $ Pro forma income statement The marketing department of Metro Manufacturing estimates that its sales in 2020 will be $162 milion Interest expense is expected to remain unchanged at $10,000, and the firm par to pay $73,000 in cash dividends during 2020. Metroline Manufacturing come statement for the year ended December 31, 2019, is gvon along with a breedown of the firm's cost of goods sold and operating expenses into their fixed and variable components a. Use the percent of sales method to prepare a proforma come statement for the year ended December 31, 2020 b. Use fixed and anable cost data to develop a proforma income statement for the year anded December 31, 2020 c. Compare and contrast the statements developed in parts a and b. Which statement probably provides the bestimate of 2020 income? Explain why $ Sales Less Cost of goods sold Gross profits Less: Operating expenses Operating profits $ $ $ Net profits before ces Loss Taxes Net profits her taxes $ Proforma income statement The marketing department of Metre Mandatingsites that its es in 2020 will be $162 Interest is expected to remain unchanged at $40.000, and the firm par to pay $73,000 in cash dividends during 2020 Metro Man's income statement for the year ended December 31, 2019 is given Wong with a brown of the cost of goods and get the fed and are comprens Use the percent of a method to prepare a proforma income statement for the year ended December 31, 2020 b. Une faxed and cont des to develop a proforma income statement for the year ended December 31, 2020 c. Compare and contrast the statements developed in parts and b. Wichter by provides the better estimate of 2020 income? Explan why Less Cash dividende To retained 5 bed Pro Forma Income Satament Metroline Manufacturing, Inc. for the Year Ended December 11, 2020 Thased and and variable costat S Le Cost of goods Fored cost Vasco Grosso S ! Less Operating expenses Fixed expense Variable expense Operating profits Los interest expense Net profits before taxes Less Taxes Net profits after taxes Less Cash dividends s $ To remedang 5 c. Compare and contrast the statements developed in parts and which statement probably provides the better estimate of 2020 income? Explain wy (Select from the drop-down menus) The proforma income statement deving the food and the cost projects netrones de to cost of goods sold and operating experson though the percent of sales method projects a more estimate of net profitere the proforma income statement classifies fixed rate costi 2 c. Compare and contrast the statements developed in parts and b. Which statement probably provides the bestimate of 2020 income? Explain why (Select from the drop-down menus The proforma income statement developed using the red and cont de projects yet profiter det cost of goods sold and coating expenses. Although the percent of sal methods estimate of where the moment that and variable costa Enter any number in the edities and then continue to the next to 10:40 c. Compare and contrast the statements developed in parts and Which ten probly provides the better estimate of 2020 income? Explain why Select the dood mous) The proforma income statement developed using the fired and variable cost dit projects net protes due to cost of goods and operating expenses. Although the proses method projects amore estimate of regrottes, the proforma come statement that classified and are costis higher Enter any number in the edit fields and then contine to the next question lower Compare and contrast the statements developed in parts and b. Which statement probably provides the better estimate of 2020 income? Explain why Select from the down) The proforma income statement developed using the fixed and variable cont data projects are profit after taxes due to cost of goods sold and opening expenses. Although the percent of sales met estimate of net profit after taxes, the proforma income statement that classifies fixed and variable costs a more accurate Entrar conservative fields and then continue to the next question agresive Compare and contrast the statements developed in parts and b. Which statement probably provides the better estimate of 2020 income? Explain why Select from the drop down) The proforma income statement developed using the food and variable cost dat projects a net profiter taxes de to cost of goods sold and operating expenses Although the percent of method projects a more estimate of net profit after taxes, the proforma income statement that classes fored and variable costis ace Enter any number in the edit fields and then continue to the next question os Data Table (For Breakdown of Costs and Expenses, click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Metroline Manufacturing Metroline Manufacturing Income Statement Breakdown Costs and Expenses for the Year Ended December 31, 2019 into Fixed and Variable Components Sales revenue $1,395,000 for the Year Ended December 31, 2019 Less: Cost of goods sold 912,000 Cost of goods sold Gross profits $483,000 Fixed cost $209,000 Less: Operating expenses 113,000 Variable cost 703.000 Operating profits $370,000 Total cost $912,000 Less: Interest expense 40,000 Operating expenses Net profits before taxes $330,000 Fixed expenses $39,000 Less: Taxes (rate= 40%) 132,000 Variable expenses 74,000 Net profits after taxes $198.000 Total expenses $113,000 Less: Cash dividends 65,000 To retained earnings $133.000