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REQUIRED Use the information provided below to prepare the Pro - forma Statement of Comprehensive Income of Mentos Limited for the year ended 3 1

REQUIRED
Use the information provided below to prepare the Pro-forma Statement of Comprehensive
Income of Mentos Limited for the year ended 31 December 2024. Note: The statement must
include the gross profit, operating profit, profit before tax and profit after tax. (10 marks)
INFORMATION
The following budgeted figures have been provided by Mentos Limited for the year ended 31 December 2023:
R
Sales (60% cash; 40% credit)2700000
Cost of sales 1080000
Administrative and selling expenses 810000
Interest expense 30000
Profit before tax 780000
Profit after tax 569400
The following forecasts were made for 2024:
1. Cash sales are expected to increase by 20% whilst credit sales are expected to increase by 30%.
2. The gross margin ratio is expected to increase by 5 percentage points.
3. Administrative and selling expenses will represent the same percentage of sales as for 2023.
4. A new loan will be taken and the interest expense will increase by 30%.
5. The company tax is calculated as a percentage of the profit before tax and the tax rate is the same as
for 2023.

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