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


Use the fixed and variable method to prepare a pro forma income statement for the year ended December 31, 2021, .for Tesla, Inc Tesla, Inc. estimates that its sales in 2021 will be 500000. The firm plans to pay cash dividends of 7000 during 2021. Tesla, Inc.'s income statement for the year ended December 31, 2020 is shown below Income statement Tesla, Inc For the year ended December 31,2020 $200000 Sales Revenue $50000 Less: Cost of Goods $50000 sold fixed $100000 variable Gross profits Less: Operating expenses fixed 5000 5000 variable $90000 Operating profits 10000 Less: Interest expense $80000 Profit before tax 32000 Less: Taxes (40%) $48000 Net profit after taxes 8000 Less: Cash dividends $40000 To retained earnings What is the company's cost of goods sold ?in the year 2021 What is the company's gross profit in the ?year 2021 What are the company's operating ?expenses in the year 2021 What is the company's operating profit in ?the year 2021 What is the company's net income in the ?year 2021 How much goes to the company's ?retained earnings
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