Question
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 500000. The firm plans to pay cash dividends of 6000 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 Less: Cost of Goods sold fixed $200000 $50000 $50000 variable Gross profits| Less: Operating expenses fixed $100000 5000 5000 variable Operating profits 10000 Less: Interest expense Profit before tax Less: Taxes (40%) $48000 Net profit after taxes 8000 Less: Cash dividends $40000 To retained earnings
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 ?earningss
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