Assignment

I've attached my PRO FORMA excel sheet with Income statement and Balance sheet. I don't know how to get the percentage needed to complete the task"

"construct a pro forma income statement and balance sheet for the company using the percentage-of-sales method"

Select a publicly held company and access the company's Web page on the Internet to read its most recent annual report. The annual report is typically found in an "Investor Relations" or "Company Information" section within the company's Web site. You can use this website to look up any publicly traded company?s documents for additional consideration. Complete the following:

• Using the company's financial statements, construct a pro forma income statement and balance sheet for the company using the percentage-of-sales method.
• Be sure to include the original statements along with a defendable sales forecast.
• Upon completion of the financials, write a paper detailing the process and what you learned about the company as you work through this activity.

MICROSOFT INCOME STATEMENTS (In millions, except per share amounts)(Unaudited) Twelve Months Ended June 30, 2016 Revenue Product $61,502 2015 2014 $75,956 $62,515 17,624 24,318 Service and other 23,818 Total revenue 85,320 93,580 86,833 17,880 21,410 12,034 14,900 11,628 14,900 32,780 33,038 26,934 52,540 11,988 14,697 4,563 60,542 12,046 15,713 4,611 52,540 11,988 14,697 4,563 1,110 10,011 1,110 20,182 18,161 20,182 Cost of revenue Product Service and other Total cost of revenue Gross margin Research and development Sales and marketing General and administrative Impairment, integration, and restructuring Operating income (loss) Other income (expense), net Income (loss) before income taxes Provision for income taxes Net income (loss) -431 346 -431 19,751 18,507 19,751 2,953 6,314 2,953 $16,798 Earnings (loss) per share: Basic $0.40 Diluted $0.39 Weighted average shares outstanding: Basic 7,842 Diluted 7,929 Cash dividends declared per common share $0.36 $12,193 $16,798 $(0.40) $ 2.66 $(0.40) $ 2.63 8,061 8,061 8,299 8,399 $0.31 $ 1.12 2016 2015 2014 Year Average MICROSOFT BALANCE SHEETS (In millions)(Unaudited) June 30, 2016 June 30, 2015 June 30, 2014 $6,510 $ 5,595 $ 8,669 106,730 90,931 77,040 113,240 96,526 85,709 18,277 17,908 19,544 Inventories Deferred income taxes 2,251 2,902 1,915 2,660 1,941 Other 5,892 5,461 4,392 139,660 124,712 114,246 Property and equipment, net of accumulated depreciation of $17,606 and $14,793 18,356 14,731 13,011 Equity and other investments 10,431 12,053 14,597 Goodwill Intangible assets, net 17,872 3,733 16,939 4,835 20,127 6,981 3,642 2,953 3,422 $193,694 $ 176,223 $ 172,384 $6,898 12,904 0 5,264 580 27,468 294 $ 6,591 4,985 2,499 5,096 606 23,223 92 $ 7,432 2,000 0 4,797 782 23,150 558 Assets Current assets: Cash and cash equivalents Short-term investments (including securities loaned of $75 and $541) Total cash, cash equivalents, and short-term investments Accounts receivable, net of allowance for doubtful accounts of $335 and $301 Total current assets Other long-term assets Total assets Liabilities and stockholders' equity Current liabilities: Accounts payable Short-term debt Current portion of long-term debt Accrued compensation Income taxes Short-term unearned revenue Securities lending payable Other 5,949 6,766 6,906 59,357 40,783 6,441 696 49,858 27,808 2,095 2,835 45,625 20,645 2,008 2,728 Other long-term liabilities 14,420 13,544 11,594 Total liabilities 121,697 96,140 82,600 68,178 68,465 68,366 Retained earnings 2,282 9,096 17,710 Accumulated other comprehensive income 1,537 2,522 3,708 71,997 80,083 89,784 $193,694 $ 176,223 $ 172,38 Total current liabilities Long-term debt Long-term unearned revenue Deferred income taxes Commitments and contingencies Stockholders' equity: Common stock and paid-in capital - shares authorized 24,000; outstanding 8,027 and 8,239 Total stockholders' equity Total liabilities and stockholders' equity INCOME STATEMENTS (In millions, except per share amounts)(Unaudited) Twelve Months Ended June 30, 2014 2013 Revenue $85,320 $ 86,833 $77,849 Cost of revenue $32,780 26,934 20,249 Gross margin Operating Expenses: Research and development Sales and marketing General and administrative $52,540 59,899 57,600 11988 14697 4563 11,381 15,811 4,821 10,411 15,276 5,149 127 0 Operating income 27,759 26,764 Other income, net 61 288 27,820 27,052 5,746 5,189 $ 22,074 $21,863 $ 2.66 $ 2.63 $ 2.61 $ 2.58 8,299 8,399 8,375 8,470 $ 1.12 $ 0.92 Goodwill Impairment Total operating expenses Income before income taxes Provision for income taxes Net income Earnings per share: Basic Diluted Weighted average shares outstanding: Basic Diluted Cash dividends declared per common share COMPREHENSIVE INCOME STATEMENTS (In millions)(Unaudited) Twelve Months Ended June 30, 2014 Net income Other comprehensive income (loss): 2013 $ 22,074 $ 21,863 Net unrealized losses on -35 -26 derivatives (net of tax effects -35 -26 1,737 363 263 -16 1,965 321 of $(3), $(4), $(4) and $(14)) Net unrealized gains (losses) on investments (net of tax effects of $162, $(206), $936, and $195) Translation adjustments and other (net of tax effects of $(41), $(40), $12, and $(8)) Other comprehensive income (loss) Comprehensive income $ 24,039 $ 22,184