Pro-Forma Income Statement Sales Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Earnings before taxes Taxes Net income $ S S 14800000 (9424000) 5376000 (4884000) (307000) (5180000)

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Basic Accounting Terms

Accounting terms are accounting terminology, accounting jargon, accounting acronyms, and accounting vocabulary that are commonly used to understand accounting fundamentals. It would be difficult for anyone to read, understand, and interpret the company's financial statements if they did not understand and know the meaning of the basic accounting terms.