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First, find the percentage of each income statement line from 2013 as a percent of sales

First, find the percentage of each income statement line from 2013 as a percent of sales

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question 6 HW

Pro forma income statement. Given the income statement in the popup window, E, for California Cement Company for 2013 and an expected sales growth rate of 7.43% 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 Data Table California Cement Company Income Statement for 2013 Sales revenue 22,868,000 -11,678,000 $ California Cement Company Cost of goods sold $ Income Statement for 2013 Selling, general, and administrative expenses $ -3,919,000 Sales revenue 22,868,000 Depreciation expenses $ -1,367,000 Cost of goods sold 2$ -11,678,000 EBIT $ 5,904,000| Selling, general, and administrative expenses $ -3,919,000 Interest expense $ -174.000 Depreciation expenses $ -1,367,000 Taxable income Taxes $ 5,730,000 EBIT 5,904,000 $ -2,511,147 Interest expense $ -174,000 Net income $ 3,218,853 Taxable income 5,730,000 Taxes $ -2,511,147 Net income $ 3,218,853 Duin
Transcribed Image Text:Pro forma income statement. Given the income statement in the popup window, E, for California Cement Company for 2013 and an expected sales growth rate of 7.43% 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 Data Table California Cement Company Income Statement for 2013 Sales revenue 22,868,000 -11,678,000 $ California Cement Company Cost of goods sold $ Income Statement for 2013 Selling, general, and administrative expenses $ -3,919,000 Sales revenue 22,868,000 Depreciation expenses $ -1,367,000 Cost of goods sold 2$ -11,678,000 EBIT $ 5,904,000| Selling, general, and administrative expenses $ -3,919,000 Interest expense $ -174.000 Depreciation expenses $ -1,367,000 Taxable income Taxes $ 5,730,000 EBIT 5,904,000 $ -2,511,147 Interest expense $ -174,000 Net income $ 3,218,853 Taxable income 5,730,000 Taxes $ -2,511,147 Net income $ 3,218,853 Duin
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