Income Statement
Huddleston Manufacturing Company
For the Year Ended December 31, 2010 Huddleston Manufacturing estimates its sales in 2011 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 2011. Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31, 2011, based on the 2010 income statement shown above.

Question

Income Statement
Huddleston Manufacturing Company
For the Year Ended December 31, 2010  Huddleston Manufacturing estimates its sales in 2011 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 2011. Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31, 2011, based on the 2010 income statement shown above.

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The Answer of Income Statement
Huddleston Manufacturing Company
For the Year Ended December 31, 2010  Huddleston Manufacturing estimates its sales in 2011 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 2011. Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31, 2011, based on the 2010 income statement shown above.

Income Statement Huddleston Manufacturing Company