Pro forma income statement. Given the income statement in the popup window, : , for...

90.2K

Verified Solution

Question

Finance

imageimage

Pro forma income statement. Given the income statement in the popup window, : , for California Cement Company for 2013 and an expected sales growth rate of 6.86% for 2014, prepare a pro forma income statement for 2014. First, find the percentage of each income statement line from 2013 as a percent of sales. (Round to three decimal places.) California Cement Company Income Statement for 2013 Sales revenue $ 22,819,000 $ -11,665,000 % Cost of goods sold Selling, general, and administrative expenses Depreciation expenses $ -3,968,000 % $ -1,326,000 % EBIT $ 5,860,000 % % Interest expense $ -176,000 Taxable income $ % 5,684,000 -2,490,9881 Taxes $ % Net income $ 3,193,012 % What is the sales forecast for 2014? $(Round to the nearest dollar.) What is the sales forecast for 2014? (Round to the nearest dollar.) The pro forma income statement for 2014 is: (Round to the nearest dollar.) $ $ 100.00 % 51.120 % $ 17.389 % California Cement Company Pro Forma Income Statement for 2014 Sales revenue Cost of goods sold Selling, general, and administrative expenses Depreciation expenses |EBIT Interest expense $ Taxable income Taxes Net income $ 5.811 % 25.680 % 0.771 % 24.909 % 10.916 % $ $ $ 13.993 % Enter any number in the edit fields and then continue to the next

Answer & Explanation Solved by verified expert
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!
Become a Member

Other questions asked by students