Use the fixed and variable method to prepare a pro forma income statement for the year ended December 31, 2021, for Google, Inc.

Google, Inc. estimates that its sales in 2021 will be 7000000 . The firm plans to pay cash dividends of 70000 during 2021. Google, Inc.'s income statement for the year ended December 31, 2020 is shown below:

1-What is the company's cost of goods sold in the year 2021?

2-What is the company's gross profit in the year 2021?

3-What are the company's operating expenses in the year 2021?

4-What is the company's operating profit in the year 2021?

5-What is the company's net income in the year 2021?

Income statement Google, Inc. For the year ended December 31,2020 Sales Revenue $5000000 Less: Cost of Goods sold $1000000 fixed $2000000 variable Gross profits $2000000 150000 Less: Operating expenses fixed 100000 Variable Operating profits $1750000 Less: Interest expense 100000 Profit before tax $1650000 Less: Taxes 40% 660000 Ne profit after taxes $990000 Less: Cash dividends 120000 To retained earnings $870000