A123 Net sales4 Cost of goods sold (COGS)5 Gross profit6 General Admin and selling expenses7 Depreciation8 Other expenses9 Total operating expenses10 EBIT11 Total interest12 Before-tax earnings13 Taxes (40%)INCOME STATEMENT14 Net income15 Note: 2020 is the forecast year.BO none of the answers is correct.O $327,500O $452,500O $390,000O $420,000?2020$ VALUESD2019$390,000327,600$62,400$8,44125,0002,863$36,303$21,951$26,097 $36,999$15,325 $15,950$10,772$21,0494,309$6,463$327,500268,550$58,950$7,67312,5001,779E2018 % AVERAGE8,420$12,629FPERCENT OF SALES2019G2018You are about to produce a forecast for the income statement by using the "percent of sales" method. First step inforecasting the financial statements is to forecast "Net Sales" (revenues). What should be the value in B3 cell as aforecast of "Net Sales" in 2020 if you apply TREND function (copy and paste the table below to an Excel worksheet tofind out)?

Here,Year20182019Net Sales $327,500$390,000

1 2 INCOME STATEMENT 3 Net sales 4 5 Gross profit 6 General Admin and selling expenses Cost of goods sold (COGS) 7 Depreciation 8 Other expenses 9 Total operating expenses 10 EBIT 11 Total interest 12 Before-tax earnings 13 Taxes (40%) 14 Net income 15 Note: 2020 is the forecast year. B O none of the answers is correct. O $327,500 O $452,500 O $390,000 O $420,000 ? 2020 C $ VALUES D 2019 $390,000 $327,500 327,600 268,550 $62,400 $58,950 $8,441 $7,673 25,000 12,500 2,863 1,779 $36,303 $26,097 $15,325 $10,772 4,309 $6,463 2018 % AVERAGE $21,951 $36,999 $15,950 $21,049 E 8,420 $12,629 F PERCENT OF SALES 2019 G 2018 You are about to produce a forecast for the income statement by using the "percent of sales" method. First step in forecasting the financial statements is to forecast "Net Sales" (revenues). What should be the value in B3 cell as a forecast of "Net Sales" in 2020 if you apply TREND function (copy and paste the table below to an Excel worksheet find out)?

1 2 INCOME STATEMENT 3 Net sales 4 5 Gross profit 6 General Admin and selling expenses Cost of goods sold (COGS) 7 Depreciation 8 Other expenses 9 Total operating expenses 10 EBIT 11 Total interest 12 Before-tax earnings 13 Taxes (40%) 14 Net income 15 Note: 2020 is the forecast year. B O none of the answers is correct. O $327,500 O $452,500 O $390,000 O $420,000 ? 2020 C $ VALUES D 2019 $390,000 $327,500 327,600 268,550 $62,400 $58,950 $8,441 $7,673 25,000 12,500 2,863 1,779 $36,303 $26,097 $15,325 $10,772 4,309 $6,463 2018 % AVERAGE $21,951 $36,999 $15,950 $21,049 E 8,420 $12,629 F PERCENT OF SALES 2019 G 2018 You are about to produce a forecast for the income statement by using the "percent of sales" method. First step in forecasting the financial statements is to forecast "Net Sales" (revenues). What should be the value in B3 cell as a forecast of "Net Sales" in 2020 if you apply TREND function (copy and paste the table below to an Excel worksheet find out)?

Fundamentals of Financial Management (MindTap Course List)

15th Edition

ISBN:9781337395250

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter4: Analysis Of Financial Statements

Section: Chapter Questions

Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...

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