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Homework: Chapter 4 HW Question 11, P4-16 (similar to) w Son OP Proforma Income statement The marketing derment of Metro Manufacturing that is 2023 w3187 meses ended December 31, 2019, is given im song with anothefis cost of wild and perfedande Use the percent method to prepare a income atment for the year anded December b. Sed and variable cost data to develop a proforma income for the year ended December 2000 Compare and contrast the statements developed in parts and Which tem probally desire 20cm a. Uon the percent of a methodo en profoma come for the year and Dec 2070 Complete the profoma income statement for the you and December 31, 2020 bound te pertarughe con and he proba Pro Forma Income State Metro Mantacturing, Inc. for the Year Ended December 1.2000 percent of method) 5 Le Cost of goods sold Cros pro Operating Jared Taylor 02/20/22:44 PM Question 11, P4-16 (similar to) HW Score: 37.4% 456 of 13 points Part 1 of 3 O Points: 0 of 1 Save 2020 will be 51.67 million, Interest expense is expected to remain unchanged 531,000, and the form plans to pay 565.000 in cash video diring 2020 Metrotice Mastucturing's income statement for the you penses into the faced and variable components 020 20 et estimate of 2020 income? Explain why CE 620 of sales to four decimal places and the proforma income statement amount to the nearest 1. ed in parts and b. Which statement probably provides the bottom of 2020 income? Explay a. Use the percent-of-sales method to prepare a pro forma come latent for the year ended December 2006 Complete the pro forma income statement for the year ended December 31, 2020 below. Round the percentage of the ta decimal proces and to promote tu) Pro Forma Income Statem Metroline Manufacturing for the Year Ended December 31, 2020 percent of sal method Sales Luis Cent of you would Ceas pro Le Operating expenses 9 Operating pro List Hinta tates 5 Tax 1 Le Cached 5 more at do konce the seattle below) Cod pendid on or to copy the comments of the databa Metroline Manufacturing Income Stament To the Year Ended December 31, 2019 $13.00 Castof 907,000 Gaspas 7 ODO Origo 10 Operating 15.00 Lot DO Net pas before 33 WYODO L 40 135.00 Nutprot aftertas 122.000 Les Cash dividende 000 To reading $12.00 Metro Manufacturing Breakdown of Cosis and Expenses Into Fixed and VariableComponent for the Year Ended December 31, 2019 Cest of goods Fel 12.00 Variabel TOS: Total 39076 Operating Fived expenses 10.000 Vartis pense 00000 Total $180 Print Dona (For Income Statement, 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 Income Statement for the Year Ended December 31, 2019 Sales revenue $1,394,000 Loss Cost of goods sold 907000 Gross profits $487,000 Less Operating expenses 118,000 Operating profits $369.000 Less Interest expense 31,000 Net profits before taxes $338,000 Less Taxes (rate 40%) 135 200 Net profits after taxes 5202,800 Less Cash dividends 68,000 To retained earnings $134 800 Metroline Manufacturing Breakdown of Costs and Expenses into Fixed and Variable Components for the Year Ended December 31, 2019 Cost of goods sold Fixed cost $202 000 Variable cost 705,000 Total cost $907.000 Operating expenses Fixed expenses $38,000 Variable expenses 80,000 Total expenses $118,000