Construct a pro forma income statement for the first year AND second year for the following assumptions:
-Units of sales in Year 1: 110,000
-Price per unit: $11
-Variable cost per unit: 30%
-Fixed costs: $125,000
-Income taxes: 15%
-Interest expense: $200,000
-In year 2, Price per unit increases to $11.50, and Unit of sales increases by 5%, all other assumptions remain the same.
Additional Requirements
Level of Detail: Only answer needed