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 7.38% for 2014, prepare a pro forma income statement for 2014. Net income 3,143,016 Data Table What is the sales forecast for 2014? $ (Round to the nearest dollar.) California Cement Company The pro forma income statement for 2014 is: (Round to the nearest dollar.) Income Statement for 2013 California Cement Company Sales revenue 22,817,00 Pro Forma Income Statement for 2014 Cost of goods sold -11,660,00 Sales revenue 100.00 Selling, general, and administrative expenses -4,002,00 Cost of goods sold 2$ 51.102 Depreciation expenses -1,386,00 EBIT Selling, general, and administrative expenses Depreciation expenses 17,540 5,769,00 6.074 Interest expense -174,00 EBIT 2$ 25.284 9 Taxable income 5,595,00 Interest expense 0.763 Taxes $4 -2,451,98 Taxable income 2$ 24.521 Net income 3,143,01 Taxes 2$ 10.746 Net income 13.775 Print Done Enter any number in the edit fields and then continue to the next question.
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 7.38% for 2014, prepare a pro forma income statement for 2014. Net income 3,143,016 Data Table What is the sales forecast for 2014? $ (Round to the nearest dollar.) California Cement Company The pro forma income statement for 2014 is: (Round to the nearest dollar.) Income Statement for 2013 California Cement Company Sales revenue 22,817,00 Pro Forma Income Statement for 2014 Cost of goods sold -11,660,00 Sales revenue 100.00 Selling, general, and administrative expenses -4,002,00 Cost of goods sold 2$ 51.102 Depreciation expenses -1,386,00 EBIT Selling, general, and administrative expenses Depreciation expenses 17,540 5,769,00 6.074 Interest expense -174,00 EBIT 2$ 25.284 9 Taxable income 5,595,00 Interest expense 0.763 Taxes $4 -2,451,98 Taxable income 2$ 24.521 Net income 3,143,01 Taxes 2$ 10.746 Net income 13.775 Print Done Enter any number in the edit fields and then continue to the next question.
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
Question 4
![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
7.38% for 2014, prepare a pro forma income statement for 2014.
Net income
$
3,143,016
Data Table
What is the sales forecast for 2014?
(Round to the nearest dollar.)
California Cement Company
The pro forma income statement for 2014 is: (Round to the nearest dollar.)
Income Statement for 2013
California Cement Company
Sales revenue
2$
22,817,000
Pro Forma Income Statement for 2014
Cost of goods sold
-11,660,000
Sales revenue
$
100.00
Selling, general, and administrative expenses
-4,002,000
Cost of goods sold
$
51.102
Depreciation expenses
2$
-1,386,000
Selling, general, and administrative expenses
$
17.540
EBIT
$
5,769,000
Depreciation expenses
$
6.074
Interest expense
$
-174,000
EBIT
$
25.284
Taxable income
5,595,000
Interest expense
$
0.763
|Таxes
$
-2,451,984
Taxable income
24.521 9
Net income
3,143,016
Taxes
$
10.746
Net income
$
13.775 9
Print
Done
Enter any number in the edit fields and then continue to the next question.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8a986b02-ba6c-4ef1-b256-a9c9c22af021%2F96891e87-4ce4-49d0-87c5-4e1ed3e845a2%2Fkwcobf03_processed.png&w=3840&q=75)
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
7.38% for 2014, prepare a pro forma income statement for 2014.
Net income
$
3,143,016
Data Table
What is the sales forecast for 2014?
(Round to the nearest dollar.)
California Cement Company
The pro forma income statement for 2014 is: (Round to the nearest dollar.)
Income Statement for 2013
California Cement Company
Sales revenue
2$
22,817,000
Pro Forma Income Statement for 2014
Cost of goods sold
-11,660,000
Sales revenue
$
100.00
Selling, general, and administrative expenses
-4,002,000
Cost of goods sold
$
51.102
Depreciation expenses
2$
-1,386,000
Selling, general, and administrative expenses
$
17.540
EBIT
$
5,769,000
Depreciation expenses
$
6.074
Interest expense
$
-174,000
EBIT
$
25.284
Taxable income
5,595,000
Interest expense
$
0.763
|Таxes
$
-2,451,984
Taxable income
24.521 9
Net income
3,143,016
Taxes
$
10.746
Net income
$
13.775 9
Print
Done
Enter any number in the edit fields and then continue to the next question.
![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
7.38% 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
California Cement Company
Sales revenue
Cost of goods sold
$
22,817,000
Income Statement for 2013
$
-11,660,000
Selling, general, and administrative expenses
$
-4,002,000
Sales revenue
$
22,817,000
Depreciation expenses
$
-1,386,000
Cost of goods sold
2$
-11,660,000
EBIT
$
5,769,000
Selling, general, and administrative expenses
-4,002,000
Interest expense
$
-174,000
Depreciation expenses
2$
-1,386,000
EBIT
$
5,769,000
Taxable income
|Тахes
$
5,595,000
$
-2,451,984
Interest expense
-174,000
Net income
Taxable income
$
3,143,016
$
5,595,000
|Таxes
2$
-2,451,984
What is the sales forecast for 2014?
Net income
2$
3,143,016
$
(Round to the nearest dollar.)
The pro forma income statement for 2014 is: (Round to the nearest dollar.)
Print
Done](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8a986b02-ba6c-4ef1-b256-a9c9c22af021%2F96891e87-4ce4-49d0-87c5-4e1ed3e845a2%2Fj57rvgd_processed.png&w=3840&q=75)
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
7.38% 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
California Cement Company
Sales revenue
Cost of goods sold
$
22,817,000
Income Statement for 2013
$
-11,660,000
Selling, general, and administrative expenses
$
-4,002,000
Sales revenue
$
22,817,000
Depreciation expenses
$
-1,386,000
Cost of goods sold
2$
-11,660,000
EBIT
$
5,769,000
Selling, general, and administrative expenses
-4,002,000
Interest expense
$
-174,000
Depreciation expenses
2$
-1,386,000
EBIT
$
5,769,000
Taxable income
|Тахes
$
5,595,000
$
-2,451,984
Interest expense
-174,000
Net income
Taxable income
$
3,143,016
$
5,595,000
|Таxes
2$
-2,451,984
What is the sales forecast for 2014?
Net income
2$
3,143,016
$
(Round to the nearest dollar.)
The pro forma income statement for 2014 is: (Round to the nearest dollar.)
Print
Done
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