on the income statement. The pro forma value is obtained by taking 19.8082% of next year's taxes. Complete the assets part of the pro forma balance sheet for next year: (Round to the nearest dollar.) a. Prepare a pro forma income statement for next year, using the fixed cost data given to improve the accuracy of the percent-of-sales method. Complete the pro forma income statement for next year below: (Round to the nearest dollar.) (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Information related to financial projections for next year is as follows: (1) Projected sales are $5,991,000. (2) Cost of goods sold last year includes $1,008,000 in fixed costs. (3) Operating expense last year includes $248,000 in fixed costs. (4) Interest expense will remain unchanged. (5) The firm will pay cash dividends amounting to 45% of net profits after taxes. (6) Cash and inventories will double. (7) Marketable securities, notes payable, long-term debt, and common stock will remain unchanged. (8) Accounts receivable, accounts payable, and other current liabilities will change in direct response to the change in sales. (9) A new computer system costing $348,000 will be purchased during the year. Total depreciation expense for the year will be $109,000. (10) The tax rate will remain at 40%. a. Prepare a pro forma income statement for next year, using the fixed cost data given to improve the accuracy of the percent-of-sales method. b. Prepare a pro forma balance sheet for next year, using the information given and the judgmental approach. Include a reconciliation of the retained earnings account