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pro forma Name ID ESSAY. Write your answer in the space provided or on a separate sheet of paper. Table 4.4 Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31, 2010, for Hennesaw Lumber, Inc. Hennesaw Lumber, Inc. estimates that its sales in 2000 will be $4,500,000. Interest expense is to remain unchanged at $105,000 and the firm plans to pay cash dividends of $150,000 during 2010. Hennesaw Lumber, Inc.'s income statement for the year ended December 31, 2009 is shown below. From your preparation of the pro forma income statement Income Statement Hennesaw Lumber, Inc. For the Year Ended December 31, 2009 Sales Revenue $4,200,000 Less: Cost of goods sold 3.570.000 Gross profits $ 630,000 Less: Operating expenses 210,000 Operating profits $ 420,000 Less: Interest expense 105.000 Net profits before taxes $ 315,000 Less: Taxes (40%) 126.000 Net profits after taxes $ 189,000 Less: Cash dividends 120,000 To: Retained earnings $ 69,000 1) Praper pro forma income statement for 2010
Nime ESSAY. Wiate your answer in the space provided Table the percent-of-sales method to prepare a pro forma inantatement for the year ende December 31, 2010, for He Lumber, le Ho Lamber, Inc. estimates that is alles in 2000 dra 4.2.conteved expenses to remain unchanged at $105,000 and the firm plans to pay cash dividends of S150 during 2010. Hennes Lumber, Ine's income statement for the year pled December 3, 2009 e shown below. From your preparation of the pro forma income statement C Income Statement Hennesaw Lumber, Inc. For the Year Ended December 31, 2009 Sales Reverse HO Cost of goods sold 3.520.000 Gross profits $ 60.000 Less Operating expelo 210.00 Operating profits $ $20,000 Less Interest espais 105.000 Net profits before the $ 315.000 Less Tax (40%) 126.000 Netprofis after takes $189.000 La Cash dividend 120.000 To Retained earning $ 60,000 1) Paper pra forma income statement for 2010 cost of good 0.009 Solr