Question: Help Requirements: Using Microsoft Excel to create pro-forma income statement based on the following assumptions Sales for first month: $60000 Cost of sales = 42%

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Requirements: Using Microsoft Excel to create pro-forma income statement based on the following assumptions

Sales for first month: $60000

Cost of sales = 42% of sales, all variable

Operating expenses = $10,000 fixed plus 5% of sales

Tax rate 30%

Sales increased by 5% each moth

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