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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