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Use the fixed and variable method to prepare a pro forma income statement for the year ended December 31, 2021, for Tesla, Inc. Tesla, Inc.
Use the fixed and variable method to prepare a pro forma income statement for the year ended December 31, 2021, for Tesla, Inc. Tesla, Inc. estimates that its sales in 2021 will be 600000. The firm plans to pay cash dividends of 7000 during 2021. Tesla, Inc.'s income statement for the year ended December 31, 2020 is shown below: Income statement Tesla, Inc. For the year ended December 31,2020 Sales Revenue $200000 $50000 Less: Cost of Goods sold fixed $50000 variable Gross profits $100000 5000 Less: Operating expenses fixed 5000 variable $90000 Operating profits 10000 Less: Interest expense Profit before tax $80000 32000 Less: Taxes (40%) Net profit after taxes $48000 Less: Cash dividends 8000 To retained earnings $40000 What is the company's cost of goods sold in the year 2021? What is the company's gross profit in the year 2021? What are the company's operating expenses in the year 2021? What is the company's operating profit in the year 2021? What is the company's net income in the year 2021? How much goes to the company's retained earnings
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