Illinois Renewable Energy Company's current income statement is shown below. The company has forecasted a sales...

 

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Illinois Renewable Energy Company's current income statement is shown below. The company has forecasted a sales growth rate of 15% for next year (Fiscal Year 2023). Sales revenue Costs except depreciation EBITDA Income Statement Depreciation and amortization Earnings Before Income and Taxes (EBIT) Interest expense Earnings before taxes (EBT) Taxes (20%) Net Income Common stock dividends Increase in retained earnings Fiscal Year 2022 $400,000.00 $300,000.00 $100,000.00 $20,000.00 $ 56,000.00 $ 5,000.00 $75,000.00 $ 15,000.00 $60,000.00 $ 42,000.00 $ 18,000.00 Please use the percentage-of-sales approach to construct the firm's pro-forma income statement for next year (Fiscal Year 2023). Illinois Renewable Energy Company's current income statement is shown below. The company has forecasted a sales growth rate of 15% for next year (Fiscal Year 2023). Sales revenue Costs except depreciation EBITDA Income Statement Depreciation and amortization Earnings Before Income and Taxes (EBIT) Interest expense Earnings before taxes (EBT) Taxes (20%) Net Income Common stock dividends Increase in retained earnings Fiscal Year 2022 $400,000.00 $300,000.00 $100,000.00 $20,000.00 $ 56,000.00 $ 5,000.00 $75,000.00 $ 15,000.00 $60,000.00 $ 42,000.00 $ 18,000.00 Please use the percentage-of-sales approach to construct the firm's pro-forma income statement for next year (Fiscal Year 2023).