Proforma incontestant The Marine Magista O wiele rected and mode ang 7070 W Mancomycet. 200 m n of the force e percent of prepare forma como en 2020 and code conto11.2000 Come and contended White Why User posted on 2020 proche year onded December 2000 per om promerecome on her Pro Forma income Statement Metroline Matching for the Year Ended December 1920 percent of a method Las Cost of goods ID Less Opere poss Oppott Les exeise Nebe Cash didid (For Income Staement, click on the icon here in order to copy the contents of the data table below into a spreadsheet) (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 of Costs and Expenses for the Year Ended December 31, 2019 into Fixed and Variable Components Sales revenue $1,403,000 for the Year Ended December 31, 2019 Less Cost of goods sold 914,000 Cost of goods sold Gross profits $489,000 Fixed cost $202,000 Less Operating expenses 124,000 Variable cost 712,000 Operating profits $365.000 Total cost $914,000 Less Interest expense 38,000 Operating expenses Net profits before taxes $327,000 Fixed expenses $38,000 Less Taxes (rate=40%) 130,800 Vanable expenses 86,000 $196 200 Net profits after taxes 5124,000 Total expenses Less Cash dividends 61,000 To retained earnings $135 200 Cles Pro forma income statement the marketing department of Metroline Manutacturing estimates that its sales in 2020 will be $169 million interest expense is expected to remain unchanged during 2020 Metroline Manufacturing's income statement for the year onded December 31, 2019, is given along with a breakdown of the firm's cost of goods sold and operating expense a. Use the percent of sales method to prepare a pro forma income statement for the year ended December 31, 2020 b. Use fixed and variable cost data to develop a pro forma income statement for the year ended December 31, 2020 c. Compare and contrast the statements developed in parts, and b. Which statement probably provides the botter estimate of 2020 incomo? Explain why COLE a. Use the percent of sales method to prepare a pro forma income statement for the year ended December 31, 2020 Complete the pro forma income statement for the year ended December 31, 2020 below (Round the percentage of sales to four decimal places and the proforma income statement amount