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Pro forma income statement. Given the income statement in the popup window, , for California Cement Company for 2013 and an expected sales growth rate of 6.58% 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

Pro forma income statement. Given the income statement in the popup window, , for California Cement Company for 2013 and an expected sales growth rate of 6.58% 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

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
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Chapter 12, Question 6. Attached is a similar question with correct answers. Please aswer what is the projected sales forecast for 2013 and 2014. Along with income statements. Thank you! :) 

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 6.58% 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 $ 22,800,000 California Cement Company Cost of goods sold $ -11,640,000 Income Statement for 2013 Selling, general, and administrative expenses $ -4,059,000 Sales revenue 22,800,000 Depreciation expenses $ -1.343,000 Cost of goods sold $ -11,640,000 EBIT $ 5,758,000 Selling, general, and administrative expenses -4,059,000 Interest expense $ -174,000 Depreciation expenses $ -1,343,000 Taxable income |Тахes $ 5,584,000 EBIT Interest expense 2$ 5,758,000 -2,447,163 $ -174,000 Net income $ 3,136,837 Taxable income $ 5,584,000 |Тахes 2$ -2,447,163 Net income $ 3,136,837
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 6.58% 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 $ 22,800,000 California Cement Company Cost of goods sold $ -11,640,000 Income Statement for 2013 Selling, general, and administrative expenses $ -4,059,000 Sales revenue 22,800,000 Depreciation expenses $ -1.343,000 Cost of goods sold $ -11,640,000 EBIT $ 5,758,000 Selling, general, and administrative expenses -4,059,000 Interest expense $ -174,000 Depreciation expenses $ -1,343,000 Taxable income |Тахes $ 5,584,000 EBIT Interest expense 2$ 5,758,000 -2,447,163 $ -174,000 Net income $ 3,136,837 Taxable income $ 5,584,000 |Тахes 2$ -2,447,163 Net income $ 3,136,837
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 7.49% 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 $ 22,845,000 100.00 California Cement Company Cost of goods sold $ -11,643,000 50.965 Income Statement for 2013 Selling, general, and administrative expenses 2$ -4,073,000 17.830 Sales revenue $ 22,845,000 Depreciation expenses $ 5.890 Cost of goods sold -1.345.000 $ -11,643,000 EBIT $ 5,784,000 25.320 Selling, general, and administrative expenses -4,073,000 Interest expense $ -174,000 0.762 Depreciation expenses -1,345,000 Taxable income $ 5,610,000 24.557 EBIT 5,784,000 $ -2,458,558 10.762 Interest expense Тахes -174.000 Net income $ 3,151,442 13.795 Taxable income 5,610,000 Taxes $ -2,458,558 What is the sales forecast for 2014? Net income 2$ 3,151,442 $ 24,556,091 (Round to the nearest dollar.) The pro forma income statement for 2014 is: (Round to the nearest dollar.) Print Done
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 7.49% 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 $ 22,845,000 100.00 California Cement Company Cost of goods sold $ -11,643,000 50.965 Income Statement for 2013 Selling, general, and administrative expenses 2$ -4,073,000 17.830 Sales revenue $ 22,845,000 Depreciation expenses $ 5.890 Cost of goods sold -1.345.000 $ -11,643,000 EBIT $ 5,784,000 25.320 Selling, general, and administrative expenses -4,073,000 Interest expense $ -174,000 0.762 Depreciation expenses -1,345,000 Taxable income $ 5,610,000 24.557 EBIT 5,784,000 $ -2,458,558 10.762 Interest expense Тахes -174.000 Net income $ 3,151,442 13.795 Taxable income 5,610,000 Taxes $ -2,458,558 What is the sales forecast for 2014? Net income 2$ 3,151,442 $ 24,556,091 (Round to the nearest dollar.) The pro forma income statement for 2014 is: (Round to the nearest dollar.) Print Done
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