Question
Your pro forma income statement shows sales of $990,000, cost of goods sold as $490,000, depreciation expense of $102,000, and taxes of $159,200 due to
Your pro forma income statement shows sales of $990,000, cost of goods sold as $490,000, depreciation expense of $102,000, and taxes of $159,200 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 | $ |
|
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Principles of Auditing and Other Assurance Services
Authors: Ray Whittington, Kurt Pany
20th edition
77729145, 978-1259295430, 1259295435, 978-0077729141
