the tax rate for 2022 was 1.7% in the fiscal year due to an increase in the amount of earnings subject to U.S tax.

(The question is in the first pic, the income statement of 2022 is in the pics that follow after)

Using the percentage of sales method, calculate the Pro Forma Income Statement for you assigned company if sales are expected to increase by 5% next year. What are the pros and cons of this approach. How would you adjust for them? Income Statement-Annual-Standardized in Millions of USD Unrealized Losses (Gains) Minimum Pension Liability Adjustment Other Operating Expense Other, Net Other Operating Expenses, Total \begin{tabular}{rr} Total Operating Expense & 16873.0 \\ Operating Income & 10041.0 \\ Interest Expense - Non-Operating & 236.0 \\ Interest Capitalized - Non-Operating & \\ Interest Expense, Net Non-Operating & 236.0 \\ Interest Income - Non-Operating & 29.0 \\ Investment Income - Non-Operating & 48.0 \\ Interest/Invest Income - Non-Operating & 77.0 \\ Interest Income(Exp), Net Non-Operating & \\ Interest Inc.(Exp.),Net-Non-Op., Total & 159.0 \\ Gain (Loss) on Sale of Assets & \\ Foreign Currency Adjustment \\ Unrealized Gains (Losses) & \\ Minimum Pension Liability Adjustment & \\ Other Non-Operating Income (Expense) & \\ Other, Net & 59.0 \\ Net Income Before Taxes & 59.0 \\ Provision for Income Taxes & 9941.0 \\ Net Income After Taxes & 189.0 \\ Net Income Before Extra. Items & 9752.0 \\ Accounting Change & \\ \hline U.S. GAAPterest & \\ \hline \end{tabular}