Question: Need Help turning this income statement into a pro forma income statement Income Statement Period Ending: 12/31/2020 12/31/2021 12/31/2022 Total Revenue $14,145,000 $13,708,000 $12,218,000 Cost
Need Help turning this income statement into a pro forma income statement
| Income Statement | |||
| Period Ending: | 12/31/2020 | 12/31/2021 | 12/31/2022 |
| Total Revenue | $14,145,000 | $13,708,000 | $12,218,000 |
| Cost of Revenue | $10,033,000 | $9,813,000 | $8,802,000 |
| Gross Profit | $4,112,000 | $3,895,000 | $3,416,000 |
| Operating Expenses | |||
| Research and Development | -- | -- | -- |
| Sales, General and Admin. | $3,748,000 | $3,977,000 | $4,730,000 |
| Non-Recurring Items | $4,000 | $12,000 | $70,000 |
| Other Operating Items | -- | -- | -- |
| Operating Income | $360,000 | ($94,000) | ($1,384,000) |
| Add'l income/expense items | ($9,000) | ($4,000) | $92,000 |
| Earnings Before Interest and Tax | $351,000 | ($98,000) | ($1,292,000) |
| Interest Expense | $146,000 | $32,000 | $27,000 |
| Earnings Before Tax | $205,000 | ($130,000) | ($1,319,000) |
| Income Tax | $20,000 | $1,000 | $12,000 |
| Minority Interest | -- | -- | -- |
| Equity Earnings/Loss Unconsolidated Subsidiary | -- | -- | -- |
| Net Income-Cont. Operations | $185,000 | ($131,000) | ($1,331,000) |
| Net Income | $185,000 | ($131,000) | ($1,331,000) |
| Pro Forma - Income Statement | |||
| Period Ending: | 2023 | 2024 | 2025 |
| Total Revenue | |||
| Cost of Revenue | |||
| Gross Profit | |||
| Operating Expenses | |||
| Research and Development | |||
| Sales, General and Admin. | |||
| Non-Recurring Items | |||
| Other Operating Items | |||
| Operating Income | |||
| Add'l income/expense items | |||
| Earnings Before Interest and Tax | |||
| Interest Expense | |||
| Earnings Before Tax | |||
| Income Tax | |||
| Minority Interest | |||
| Equity Earnings/Loss Unconsolidated Subsidiary | |||
| Net Income-Cont. Operations | |||
| Net Income |
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