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 9000 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 $200000 Sales Revenue $50000 Less: Cost of Goods sold fixed $50000 variable $100000 Gross profits| Less: Operating 5000 expenses fixed 5000 variable $90000 Operating profits 10000 Less: Interest expense $80000 Profit before tax Less: Taxes (40%) 32000 $48000 Net profit after taxes 8000 Less: Cash dividends $40000 To retained earnings 1What is the company's cost of goods sold ?in the year 2021
2What is the company's gross profit in the ?year 2021
3What are the company's operating ?expenses in the year 2021
4What is the company's net income in the ?year 2021
5How much goes to the company's ?retained earnings
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