please answer correctly and as soon as possible Question 09...
60.1K
Verified Solution
Link Copied!
Question
Accounting
please answer correctly and as soon as possible 
Question 09 Pro forma income statement Orion Inc., expects sales during 2018 to nse from the 2017 level of $3.5 million to $6 million. Because of a scheduled large loan payment, the interest expense in 2018 is expected to drop to $350,000. The firm plans to increase its cash dividend payments during 2018 to $400,000. The company's year-end 2017 income statement follows. Orion, Inc. Income Statement for the Year Ended December 31, 2017 Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Operating profits Less: Interest expense Net profits before taxes Less Taxes rate Net profits after taxes Less: Cash dividends To retained earnings 3500000 1925000 1575000 420000 1155000 400000 755000 302000 453000 250000 203000 40% Use the percent-of-sales method to prepare a 2018 pro forma income statement for Orion, Inc *Good Luck
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.