Use the percele method to reforme income for the younded December 31, 2020 Complete the proforma income statement for the year ended December 31, 2000 below. Round the percentages to build the income tamen mounts on the nearest dolar) Pro Forma Incoment for the Yonded December 2000 See Low Cost of goods sole 7.81 % $ Gross profits Less: Operating expenses Operating profits Less: Interest expense Net profits before taxes Less: Taxes Net profits after taxes Less: Cash dividends To retained earnings 545424 425,937 425,937 39,000 386,937 (154775) 232,162 72,000 160,162 Proforma income statement. The matering department of Metro Manufacturing estimates that she was an unchanged.00, and the imple pay $2,000 in dividends during 2020. Meine andering income toment to the year and December 2013. decendering to their und and variable components the the method to prepare a prema income to me year ended December 21,200 Ure fred and variable cost data to develop a proforma income statement (Click on the icon located on the top-right corner of the data tables below in order to copy its contents into a spreadsheet.) Metroline Manufacturing Metroline Manufacturing Income Statement Breakdown of Costs and Expenses for the Year Ended December 31, 2019 into Fixed and Variable Components Sales revenue $1,396,000 for the Year Ended December 31, 2019 Less: Cost of goods sold 917.000 Cost of goods sold Gross profits $479,000 Fixed cost $213,000 Less: Operating expenses 112,000 Variable cost 704,000 Operating profits $367,000 Total cost $917,000 Less: Interest expense 39,000 Operating expenses Net profits before taxes $328,000 Fixed expenses $34,000 Less: Taxes (rate=40%) 131,200 Variable expenses 78,000 Net profits after taxes $196,800 Total expenses $112.000 Less: Cash dividends 69,000 To retained earnings $127.800 Use the percele method to reforme income for the younded December 31, 2020 Complete the proforma income statement for the year ended December 31, 2000 below. Round the percentages to build the income tamen mounts on the nearest dolar) Pro Forma Incoment for the Yonded December 2000 See Low Cost of goods sole 7.81 % $ Gross profits Less: Operating expenses Operating profits Less: Interest expense Net profits before taxes Less: Taxes Net profits after taxes Less: Cash dividends To retained earnings 545424 425,937 425,937 39,000 386,937 (154775) 232,162 72,000 160,162 Proforma income statement. The matering department of Metro Manufacturing estimates that she was an unchanged.00, and the imple pay $2,000 in dividends during 2020. Meine andering income toment to the year and December 2013. decendering to their und and variable components the the method to prepare a prema income to me year ended December 21,200 Ure fred and variable cost data to develop a proforma income statement (Click on the icon located on the top-right corner of the data tables below in order to copy its contents into a spreadsheet.) Metroline Manufacturing Metroline Manufacturing Income Statement Breakdown of Costs and Expenses for the Year Ended December 31, 2019 into Fixed and Variable Components Sales revenue $1,396,000 for the Year Ended December 31, 2019 Less: Cost of goods sold 917.000 Cost of goods sold Gross profits $479,000 Fixed cost $213,000 Less: Operating expenses 112,000 Variable cost 704,000 Operating profits $367,000 Total cost $917,000 Less: Interest expense 39,000 Operating expenses Net profits before taxes $328,000 Fixed expenses $34,000 Less: Taxes (rate=40%) 131,200 Variable expenses 78,000 Net profits after taxes $196,800 Total expenses $112.000 Less: Cash dividends 69,000 To retained earnings $127.800