Proforma Income Statement. Your pro forma income statement shows sales of $1,013,000, cost of goods sold as $513,000, depreciation expense of $103,000, and taxes of $158,800 due to a tax rate of 40%. What are your pro forma earnings? What is your pro forma free cash flow?

Use the following format in excel:

Sales

-Cost of Goods Sold

Gross Profit

-Depreciation

EBIT

-Taxes

Earnings

Pro Forma Income Statement 1 - 2 0 0 0 Year Sales Variable Costs Gross Profit Fixed Costs Depreciation EBIT Taxes Net Income 0 0 0 0 0 0 0 0 0 Cash Flows 0 Operating Cash Flow Changes in NWC Net Capital Spending Cash Flow From Assets 0 | 0 | 0 | Net Present Value IRR $0.00 Pro Forma Income Statement 1 - 2 0 0 0 Year Sales Variable Costs Gross Profit Fixed Costs Depreciation EBIT Taxes Net Income 0 0 0 0 0 0 0 0 0 Cash Flows 0 Operating Cash Flow Changes in NWC Net Capital Spending Cash Flow From Assets 0 | 0 | 0 | Net Present Value IRR $0.00