(B) Prepare a Pro-forma Income statement for 2021 showing Revenue through Net Income show dollar & % change columns for the year (The Pro-forma should prove the DOL formula).

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Mask No More, Inc. has seen a great explosion in product demand after a feature on 60 Minutes. Company data reveals the following: 2020 $ 5,550,000 $ 7,215,000 2019 Revenue Variable Cost 2,497,500 $ 3,246,750 Contribution Margin $ 3,052,500 $ 3,968,250 Fixed Costs 2,500,000 $ 2,500,000 EIBIT 552,500 $ 1,468,250 Interest @ 5% 100,000 $ 100,000 EBT 452,500 $ 1,368,250 Taxes @ 20% 90,500 $ 273,650 Net Income 362,000 $ 1,094,600 %24 %24 Mask No More, Inc. has seen a great explosion in product demand after a feature on 60 Minutes. Company data reveals the following: 2020 $ 5,550,000 $ 7,215,000 2019 Revenue Variable Cost 2,497,500 $ 3,246,750 Contribution Margin $ 3,052,500 $ 3,968,250 Fixed Costs 2,500,000 $ 2,500,000 EIBIT 552,500 $ 1,468,250 Interest @ 5% 100,000 $ 100,000 EBT 452,500 $ 1,368,250 Taxes @ 20% 90,500 $ 273,650 Net Income 362,000 $ 1,094,600 %24 %24

Answer rating: 100% (QA)

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