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Construct a pro forma income
Question Description
2- Construct a pro forma income statement for the first year and second year for the following assumptions:
•Units of Sales in Year 1: 100,000.
•Price per Unit: $10.
•Variable cost per unit: 30%.
•Fixed Costs: $120,000.
•Income taxes: 15%.
•Interest Expense: $200,000.
•In year 2, Price per unit increases to $11.50, and unit of sales increases by 3%, all other assumptions remain the same
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