Use the percent-of-sales method to propara a proforma income statement for the year ended December 31, 2018, for Hennesaw Lumber, inc Hennesaw Lumber, Inc. estimates that its sales in 2018 will be 57.000.000. Interest expense is to remain unchanged at $105.000 and the firm plans to pay cash dividends of S160,000 during 2018 Henna Lumber Inc.'s income statement for the year ended December 31, 2017 is shown below. From your preparation of the proforma income statement, the proforma net profits after taxes for 2018 (See Tab44) Income Statement Honnesaw Lumber, Inc. For the Year Ended December 31, 2017 Sales Revenue $4,200,000 Less: Cost of goods sold 3,570,000 Gross profits $630,000 OA 5357.000 OB. $202.500 C. $207,000 OD 552.500 Gross profits o 5 630,000 Loss: Operating expenses 210,000 Operating profits Lens Interest expense 5 420,000 105,000 Net profits before taxes $ 315.000 126,000 Less: Taxes (40%) Net profits after taxes $ 109,000 Less Cash dividends 120.000 To: Retained earings $ 69,000 O A $357.000 OB S202,500 OG $207.000 OD. $52,500