Prepare a pro forma income statement for the year ending in 6/30/2017 using the information given below.
projected Sales: $50,000,000
Cost of Goods Sold - 70% of sales
Selling and Admin Expenses - $150,000/ Month
Depreciation Expense - $200,000/month
Interest Expense - $300,000
Tax Rate - 35%
Dividend Payout Rate- 25%
Please use the following steps and show the work: 1. Establish a Sales Projection 2. Determine a production schedule and the associates use of new materiak 3. Compute other expenses 4. Determine profit by completing the actual pro forma statement