Question: BUILDING A PROJECT PRO FORMA INCOME STATEMENT 1. (1PT) A proposed new investment has a projected sales of $635,000. Variable costs are 44% of

BUILDING A PROJECT PRO FORMA INCOME STATEMENT 1. (1PT) A proposed new

BUILDING A PROJECT PRO FORMA INCOME STATEMENT 1. (1PT) A proposed new investment has a projected sales of $635,000. Variable costs are 44% of sales. Fixed costs are $193,000; depreciation is $54,000. Prepare a pro-forma income statement for the project assuming a 21% tax rate. INCOME STATEMENT

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