Based on the data below, complete Pro Forma Financial Statements (Based on regression analysis, your company has determined that it has an annual sales growth of 6% per year)

Net Sales = $800,000

Cost of Goods Sold = $600,000

Fixed Operating Costs = $50,000

Depreciation = $20,000

Interest Expense = $20,000

Income Tax Rate = 20%

Cash = $10,000

Accounts Receivable = $90,000

Inventory = $140,000

Equipment (net) = $200,000

Accounts Payable = $20,000

Notes Payable = $40,000

Long-Term Bonds = $150,000

Common Stock = $90,000

Retained Earnings = $140,000

Answer rating: 100% (QA)

Pro forma financial statements includes Income Statement Statement of Retained Earnings and Balance ... View the full answer