Rimier Corp. forecasts sales of $650,000 for 2020. Assume that the firm has fixed costs of $250,000 and variable costs amounting to 35% of sales. Operating expenses are estimated to include fixed costs of $28,000 and a variable portion equal to 7.5% of sales. Interest expenses for the coming year are estimated to be $20,000. Estimate Rimiers net profits before taxes for 2020. Prepare a Pro Forma Income Statement below.

Sales Revenue= Less: Cost of goods sold= Fixed Cost= Variable Cost= Gross Profits= Less Operating expenses= Fixed Expense= Variable expenses= Operating profits= Less: Interest expense (all fixed)= Net profits before taxes=