- X i Data Table (Click on the icon located on the top-right corner of the data tables below in order to copy its contents into a spreadsheet.) res Metroline Manufacturing Metroline Manufacturing Breakdown of Costs and Expenses into Fixed and Variable Components for the Year Ended December 31, 2015 Income Statement for the Year Ended December 31, 2015 $1,400,000 910,000 Sales revenue Cost of goods sold Less: Cost of goods sold Gross profits Fixed cost $210,000 $490,000 120,000 Variable cost Total cost 700,000 $910,000 Less: Operating expenses Operating profits $370,000 Less: Interest expense 35,000 $335,000 Operating expenses Fixed expenses Variable expenses Net profits before taxes $36,000 Less: Taxes (rate 40%) Net profits after taxes 134,000 84,000 $201,000 Total expenses $120,000 Less: Cash dividends 66,000 To retained earnings $135,000 Print Done Score: 0 of 1 pt 6 of 9 (6 complete) HW Score: 52.78 % , 4.75 P4-15 (book/static) 1Question He Pro forma income statement The markeling department of Metroine Manufacturino 2016. Metroline Manufacturing's income statement f nates that its sales in 2016 will be $1.50 million Interest expense is expected to remain unchanged at $35,000, and the firm plans to pay $70,000 in cash dividends the yoar ended December 31, 2015, is given B, along with a breakdown of the firm's cost of goods sold and operating expenses into their fixed and vanable components b. Use frxed and varigle.coct po loma income stafoment for the year ended December 31, 2016 c. Compare and contrast the statements developed in parts a, and b. Which statement probahly nc tot estimate of 2016 income? Explain why Pro Forma Income Statement Metroline Manufacturing, Inc. for the Year Ended December 31, 2016 (percent-of-sales method) Sales S Less Cost of goods sold Gross profits Less: Operating expenses Operating profts Less Interest expense Net profits before taxes Less Taxes Net protits after taxes S Less: Cash dividends To retained earnings Enter any number in the edit fields and then click Check Answer Clear All Check Answer Paining 1003 PM O Type here to search. SAMSUNG