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B CD E 1 NOTE: Enter a formula in cells requesting a value; 2 3 Net Sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other revenues and gains Other expenses and losses. Income before income taxes Income tax expense" Income from continuing operations "Income tax expense $322,000 x 25% $80,500 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 JUBAIL CORPORATION Statement of Comprehensive Income For the Year Ended December 31, 2021 $20,000 28,000 M Year Year Year Year Year 2022 2023 2024 2025 2026 $1,700,000 Value Value Value Value 1,100,000 Value Value Value Value 600,000 Value Value Value Value 270,000 Value Value Value Value 330,000 Value Value Value Value Value Value Value Value Value Value 8,000 Value Value 322,000 Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value 80,500 Value 241,500 Value N Refer to excel sheet (Question 2) and then by using percentage of sales methods, prepare the five (5) year Projected Income statements for Jubail Corporation. Following are the inputs for projection. Sales growth every year 5% tax rate 25% B C D E 1 NOTE: Enter a formula in cells requesting a value; 2 Net Sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other revenues and gains Other expenses and losses, Income before income taxes Income tax expense" Income from continuing operations "Income tax expense $322,000 x 25% $80,500 3 4 5 6 7 8 9 10 11 DANSK75 12 13 14 15 16 17 18 JUBAIL CORPORATION Statement of Comprehensive Income For the Year Ended December 31, 2021 $20,000 28,000 J M Year 2026 Value Year Year Year 2023 2024 2025 Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Value Year 2022 $1,700,000 Value 1,100,000 Value 600,000 Value 270,000 Value 330,000 Value Value Value 8,000 Value Value 322,000 Value Value 80,500 Value Value Value 241,500 Value N Refer to excel sheet (Question 2) and then by using percentage of sales methods, prepare the five (5) year Projected Income statements for Jubail Corporation. Following are the inputs for projection. Sales growth every year 5% tax rate 25%