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Your pro forma income statement shows sales of $956,000, cost of goods sold as $496,000, depreciation expense of $102,000, and taxes of $143,200 due to

Your pro forma income statement shows sales of $956,000, cost of goods sold as $496,000, depreciation expense of $102,000, and taxes of $143,200 due to a tax rate of 40%. What are your pro forma earnings? What is your pro forma free cash flow? Complete the pro forma income statement below:(Round to the nearest dollar.)

Sales

$

Cost of Goods Sold

$

Gross Profit

$

Depreciation

$

EBIT

$

Taxes (40%)

$

Earnings

$

The pro forma free cash flow will be?

(Round to the nearest dollar.)

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