1 Proforma Income Statement 2 3 4 56 Sales Cost of Goods Sold A 7 8...

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1 Proforma Income Statement 2 3 4 56 Sales Cost of Goods Sold A 7 8 Operating Expenses 9 Dealer Percentage 10 11 12 13 14 15 Net Operating Income 16 17 18 Earnings Before Taxes 19 Administrative Expenses Selling Expenses (Sales* Dealer %) Depreciation Expenses Total 20 21 22 Net Income 23 B 2014 2015 $ 84,532,250.00 $ 100,138,250.00 $ $ 42,965,817.00 $ 52,723,795.00 $ Gross Profit $ 41,566,433.00 $ 47,414,455.00 $ 18% 7,952,839.00 $ 18,024,885.00 $ 2,026,001.00 $ $ 24,498,285.00 $ 28,003,725.00 $ $ 7,413,206.00 $ $ 15,215,805.00 $ $ 1,869,274.00 $ $ 17,068,148.00 $ Interest Expense $ 93,468.00 $ C Tax Percentage Taxes (Earning before taxes * Tax %) $ 8,487,340.00 $ $ 16,974,680.00 $ 19,318,141.00 $ 50% 19,410,730.00 $ 92,589.00 $ 50% 9,659,070.50 $ $ 8,487,340.00 $ 9,659,070.50 $ D 2016 115,845,850.00 $ 64,516,024.00 $ 51,329,826.00 $ 8,917,696.00 $ 20,852,253.00 $ 2,483,744.00 $ 32,253,693.00 $ 19,076,133.00 $ 110,277.00 18,965,856.00 $ 50% 9,482,928.00 $ 9,482,928.00 $ E 2017 2018 156,410,100.00 $ 196,445,370.00 77,515,149.00 $ 104,128,001.00 78,894,951.00 $92,317,369.00 F 7,964,649.00 $ 7,738,943.00 28,153,818.00 $ 35,360,166.60 2,251,791.00 $ 2,486,977.00 38,370,258.00 $ 45,586,086.60 40,524,693.00 $ 46,731,282.40 121,465.00 $ 117,855.00 40,403,228.00 $ 46,613,427.40 50% 50% 20,201,614.00 $ 23,306,713.70 20,201,614.00 $ 23,306,713.70 Question 5: Goal Seek Using the results from your 2018 income statement, identify the gross sales (in $) required in 2018 to achieve a Net Income of $30,000,000. Use Goal Seek to answer this question. Show a screenshot of your Goal Seek as it displays the answer. the 2018 sales is $ 196,445,370.00 1 Proforma Income Statement 2 3 4 56 Sales Cost of Goods Sold A 7 8 Operating Expenses 9 Dealer Percentage 10 11 12 13 14 15 Net Operating Income 16 17 18 Earnings Before Taxes 19 Administrative Expenses Selling Expenses (Sales* Dealer %) Depreciation Expenses Total 20 21 22 Net Income 23 B 2014 2015 $ 84,532,250.00 $ 100,138,250.00 $ $ 42,965,817.00 $ 52,723,795.00 $ Gross Profit $ 41,566,433.00 $ 47,414,455.00 $ 18% 7,952,839.00 $ 18,024,885.00 $ 2,026,001.00 $ $ 24,498,285.00 $ 28,003,725.00 $ $ 7,413,206.00 $ $ 15,215,805.00 $ $ 1,869,274.00 $ $ 17,068,148.00 $ Interest Expense $ 93,468.00 $ C Tax Percentage Taxes (Earning before taxes * Tax %) $ 8,487,340.00 $ $ 16,974,680.00 $ 19,318,141.00 $ 50% 19,410,730.00 $ 92,589.00 $ 50% 9,659,070.50 $ $ 8,487,340.00 $ 9,659,070.50 $ D 2016 115,845,850.00 $ 64,516,024.00 $ 51,329,826.00 $ 8,917,696.00 $ 20,852,253.00 $ 2,483,744.00 $ 32,253,693.00 $ 19,076,133.00 $ 110,277.00 18,965,856.00 $ 50% 9,482,928.00 $ 9,482,928.00 $ E 2017 2018 156,410,100.00 $ 196,445,370.00 77,515,149.00 $ 104,128,001.00 78,894,951.00 $92,317,369.00 F 7,964,649.00 $ 7,738,943.00 28,153,818.00 $ 35,360,166.60 2,251,791.00 $ 2,486,977.00 38,370,258.00 $ 45,586,086.60 40,524,693.00 $ 46,731,282.40 121,465.00 $ 117,855.00 40,403,228.00 $ 46,613,427.40 50% 50% 20,201,614.00 $ 23,306,713.70 20,201,614.00 $ 23,306,713.70 Question 5: Goal Seek Using the results from your 2018 income statement, identify the gross sales (in $) required in 2018 to achieve a Net Income of $30,000,000. Use Goal Seek to answer this question. Show a screenshot of your Goal Seek as it displays the answer. the 2018 sales is $ 196,445,370.00