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Income Statement Huddleston Manufacturing Company

Question 163

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Income Statement
Huddleston Manufacturing Company
For the Year Ended December 31,2015 Income Statement Huddleston Manufacturing Company For the Year Ended December 31,2015 Huddleston Manufacturing estimates its sales in 2016 will be $3 million.Interest expense is expected to remain unchanged at $70,000,and the firm plans to pay cash dividends of $140,000 during 2016.Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31,2016,based on the 2015 income statement shown above. Huddleston Manufacturing estimates its sales in 2016 will be $3 million.Interest expense is expected to remain unchanged at $70,000,and the firm plans to pay cash dividends of $140,000 during 2016.Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31,2016,based on the 2015 income statement shown above.

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