SHOW ALL YOUR SUPPORTING CALCULATIONS! You may do this either within the c All your work must be shown on this sheet, not on a separate tab. Forecasted Income Statement (25 points) DURA-CLEAR WINDOWS, LLC Proforma Income Statement 2020 2021 2022 2023 Sales (all on credit) 1,200,000 1,500,000 1,875,000 Cost of Goods Sold (800,000) (1,040,000) (1,105,000) Gross Profit 400,000 460,000 770,000 Selling and Administrative Expense (304,900) (350,500) (443,700) Operating profit (EBIT) 95,100 109,500 326,300 Interest expense (35,000) (45,000) (85,000) Net Income before Taxes 60,100 64,500 241,300 Taxes (36,900) (49,200) (55,600) Net Income 23,200 15,300 185,700 Shares 60,000 60,000 78,000 Earnings per Share $0.39 $0.26 $2.38 Forecasted Balance Sheet (30 points) DURA-CLEAR WINDOWS, LLC Proforma Balance Sheet 2020 2021 2022 2023 ASSETS Cash 30,000 40,000 30,000 Marketable Securities 20,000 25,000 30,000 Accounts Receivable 170,000 259,000 360,000 Inventory 230,000 261,000 290,000 Total Current Assets: 450,000 585,000 710,000 Plant and equipment 650,000 765,000 1,390,000 Less: accumulated depreciation (65,000) (141,500) (280,500) Net Plant and equipment 585,000 623,500 1,109,500 Total Assets 1,035,000 1,208,500 1,819,500 LIABILITIES & STOCKHOLDER'S EQUITY