utilizing the ficticious company Tag-it Corporation, prepare next years forecast with a pro forma income statement.

Additionally, Tag-its CEO has predicted a 15% increase in total revenue next year. Utilizing the percentage of sales method, prepare a forecast for next year in the correct section on the Excel spreadsheet.

1. the total revenue numbers over the past 4 years for Tag-it Corporation were as follows ( values in millions)

73,785

69,495

71,879

75, 356

2. determine whether you think Tag-it can hit the target of 15% increase in sales next year.

Format Painter Clipboard Font Alignment NU F H D11 fo A C E 1 FINA310 IP TEMPLATE FOR STUDENTS 2 3 Student name: 4 Date: on ACTUAL FORECAST 6 2018 2019 7 B Total Revenue $ 71,879 9 10 Cost of Revenue $ (51,125) 11 P Gross Profit $ 20,754 13 14 Operating Expenses Selling, General, and Administrative 16 $ (14,248) 17 18 Research and Development $ 20 $ Special Income/Other Charges Total Operating Expenses (2.194) (16,442) 22 $ 23 24 Operating Income $ 4,312 Net Interest Income $ (666) 27 edite 20 Pre-Tax Income $ 3,646 29 30 31 32 Provision for Income Tax (19.5%) $ (711) Net Income $ 2,935 33 34 35 37 Sheet1 Ready 110 Utilizing the fictitious company Tag-It Corporation, prepare next year's forecast with a pro forma income statement. Here is the current income statement for Tag.lt Download the income statement Additionally, Tag-It's CEO has predicted a 15% increase in total revenue next year. Utilizing the percentage of sales method, prepare a forecast for next year in the correct section on the Excel spreadsheet 1. The total revenue numbers over the past 4 years for Tag-lt Corporation were as follows as in milions): 73,785 69,495 71.879 75,356 2. Determine whether you think Tag it can hit the target of a 15% increase in sales next year