Given the income statement below for California Cement Company for 2013, and the sales forecast from Problem
Question:
Given the income statement below for California Cement Company for 2013, and the sales forecast from Problem 2, prepare a pro forma income statement for CCC for 2014.
California Cement Company
Income Statement for 2013
Sales Revenue........................................ $22,923,000
COGS.................................................11,713,000
SG&A Expenses ..................................... 4,043,000
Depreciation Expenses .............................. 1,420,000
EBIT ...................................................$5,747,000
Interest Expense ...................................... 173,000
Taxable Income ......................................$5,574,000
Taxes ...................................................... 1,723,000
Net Income ..............................................$3,851,000
Step by Step Answer:
First find the percentages of each income statement line as a percent of sales Califor...View the full answer
