Question: Complete the Year 2 income statement data for Cute Camel, then answer the questions that follow. Be sure to round each dollar value to the

Complete the Year 2 income statement data for Cute Camel, then answer the questions that follow. Be sure to round each dollar value to the nearest whole dollar.

Cute Camel Woodcraft Company Income Statement for Year Ending December 31

Year 1 Year 2 (Forecasted)Net sales$15,000,000

Less: Operating costs, except depreciation and amortization10,500,000

Less: Depreciation and amortization expenses600,000600,000Operating income (or EBIT)$3,900,000

Less: Interest expense390,000

Pre-tax income (or EBT)3,510,000

Less: Taxes (25%)877,500

Earnings after taxes$2,632,500

Less: Preferred stock dividends100,000

Earnings available to common shareholders2,532,500

Less: Common stock dividends1,053,000

Contribution to retained earnings$1,479,500 $1,822,062 Year 2

I need help getting year 2 forecasted

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