Question: Please answer ASAP, equations please. based off 2020 + team work Tommy's Box Cars - Large Pro Forma Income Statement For the Fiscal Year Ended
Please answer ASAP, equations please. based off 2020 + team work
| Tommy's Box Cars - Large | |||||
| Pro Forma Income Statement | |||||
| For the Fiscal Year Ended June 30, 2021 | |||||
| Item | Amount | ||||
| Sales | |||||
| Cost of goods sold | |||||
| Gross margin | |||||
| Selling & administrative expenses | |||||
| Net operating income | |||||
| Interest expense | |||||
| Net income | |||||
| Tommy's Box Cars - Large | |||||
| Pro Forma Balance Sheet | |||||
| As of June 30, 2021 AND June 30, 2020 | |||||
| Assets | June 30, 2021 | June 30, 2020 | |||
| Cash | $1,450,000 | ||||
| Accounts receivable | $3,900,000 | ||||
| Direct materials inventory | $200,000 | ||||
| Finished Goods inventory (box cars) | $- | ||||
| Plant and equipment | $8,900,000 | ||||
| Total assets | $14,450,000 | ||||
| Liabilities and Stockholders' Equity | June 30, 2021 | June 30, 2020 | - | ||
| Accounts payable | $450,000 | ||||
| Notes payable - equipment | $- | ||||
| Letter of Credit outstanding | $- | ||||
| Capital stock | $3,500,000 | ||||
| Retained Earnings | $10,500,000 | ||||
| Total liabilities and stockholders equity | $14,450,000 | ||||
| ACCOUNTING EQUATION OUT OF BALANCE | $0 | $0 | |||
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