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-It:

Clickhereto download the income statement.

Tag-It's CEO has predicted a 10% increase in total revenue next year. Utilizing the percentage of sales method, forecast for next year in the section provided on the Excel spreadsheet provided.

1. The total revenue numbers over the past 4 years for Tag-It Corporation were as follows:
2. Values in Millions:

• 72,618
• 73,785
• 69,495
• 71,879

1. Determine whether you think Tag-It can hit the target of a 10% increase in sales next year.

Submit the Excel spreadsheet provided, saved with your name, which must include the answers to the 2 questions:1. An updated forecast for next year, and 2.the answer to question regarding the target sales.