**Pro Forma Income Statement Calculation**Your pro forma income statement shows sales of $1,006,000, cost of goods sold as $488,000, depreciation expense of $97,000, and taxes of $105,250 due to a tax rate of 25%. What are your pro forma earnings? What is your pro forma free cash flow?Complete the pro forma income statement below: (Round to the nearest dollar.)| **Category** | **Amount** ||----------------------------|----------------:|| Sales | $ || Cost of Goods Sold | $ || Gross Profit | $ || Depreciation | $ || EBIT | $ || Taxes (25%) | $ || Earnings | $ |### Steps to Calculate the Pro Forma Income Statement1. **Sales**: Enter the total sales value.2. **Cost of Goods Sold (COGS)**: Enter the cost associated with the production of goods sold.3. **Gross Profit**: Subtract the COGS from Sales.4. **Depreciation**: Enter depreciation expense.5. **EBIT (Earnings Before Interest and Taxes)**: Subtract Depreciation from the Gross Profit.6. **Taxes**: Multiply EBIT by the tax rate (25%).7. **Earnings**: Subtract Taxes from EBIT.This pro forma income statement template is useful for financial planning and analysis, helping you project future earnings and evaluate the financial performance of a business.

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Description: **Pro Forma Income Statement Calculation**Your pro forma income statement shows sales of $1,006,000, cost of goods sold as $488,000, depreciation expense of $97,000, and taxes of $105,250 due to a tax rate of 25%. What are your pro forma earnings? W

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Your pro forma income statement shows sales of $1,006,000, cost of goods sold as $488,000, depreciation expense of $97,000, and taxes of $105,250 due to a tax rate of 25%. What are your pro forma earnings? What is your pro forma free cash flow? Complete the pro forma income statement below: (Round to the nearest dollar.) Sales $ Cost of Goods Sold Gross Profit Depreciation EBIT Taxes (25%) Earnings $ $ $ $ $

Your pro forma income statement shows sales of $1,006,000, cost of goods sold as $488,000, depreciation expense of $97,000, and taxes of $105,250 due to a tax rate of 25%. What are your pro forma earnings? What is your pro forma free cash flow? Complete the pro forma income statement below: (Round to the nearest dollar.) Sales $ Cost of Goods Sold Gross Profit Depreciation EBIT Taxes (25%) Earnings $ $ $ $ $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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