The CFO of General Company has just given you the companys FY 2020 income statement plus the assumptions for the FY 2021 projected income statement in the attachment below. Based on the given 2020 income statement and 2021 assumptions, construct the companys 2021 projected income statement (to 2 decimal places) and answer the following question. You may use the attached spreadsheet to calculate your answer.

What is the 2021 projected net income?

		$7,235.82
		$7,781.94
		$5,875.00
		$7,885.82

File Carruthers, McKayla F (Student Worker) Share AutoSum SA Financial Forecasting General Company (Compatibility Mode] - Excel Home Insert Page Layout Formulas Data Review View Acrobat QuickBooks Tell me what you want to do.. X Cut Arial -K SPA Wrap Text General SuperScript TexBold Teslali E Copy Format Painter BIU... A = = = = = Merge Center $ -% Conditional formal as leadfarma TitleNo... Normal Formatting Table Clipboard Tant Alignment Number Style f T] . ' 27 Paste Insert Delele Fural Olcar- Surl & Find & Filter Select Editing F39 0 G D C G 11 1 J L N 1 General Company 12 months Dec-31-2020 USD 2021 Projected $79,619.00 557276.50 $72.343.00 4 Income Statement For the Fiscal Period Ending 5 Currency 7 8 Total Revenue 9 10 Cast of Goods Sold 11 Grass Proti 12 13 Saling General & Admin Exp 14 R & Exp 15 Other Operating Exp., Total 16 17 Operating Income 18 19 Interest Expense 20 Interest and most. Income 21 Net Interest Exp. 2021 Income Statement Assumptions Revenue Growth of Gross Proft Margin of 30% Selling General Admin Exp as of revenue of 14% RD Exp as of total revenue of 2% Interest Expense - Average borrowings of 575.000 at a 2.0% interest rate Interest and Investment Income of $650 Darrency Exchange Clan of 3 ElTeclive Tax Rate of 275 $11 1920 59 5650 $13.687.00 58,656.00 51,333.00 $491.00 -$842.00 $19.00 $7,833.00 23 Currency Exchange Gains (Loss) 24 EBT 25 26 Income Tax Expanse 27 Net Income 28 29 30 31 51 958.00 $5.875.00 34 35 38 37 38 39 40 41 Income Statement Hedy 100% O Search 07 X! 7:41 PM 5/11/2021