Table 4.6
Income Statement
Ace Manufacturing,Inc.
For the Year Ended December 31,2018
-Ace Manufacturing,Inc.,is preparing pro forma financial statements for 2019.The firm utilized the percent-of-sales method to estimate costs for the next year.Sales in 2018 were $2 million and are expected to increase to $2.4 million in 2019.The firm has a 40 percent tax rate.

Question

Table 4.6
Income Statement
Ace Manufacturing,Inc.
For the Year Ended December 31,2018 
-Ace Manufacturing,Inc.,is preparing pro forma financial statements for 2019.The firm utilized the percent-of-sales method to estimate costs for the next year.Sales in 2018 were $2 million and are expected to increase to $2.4 million in 2019.The firm has a 40 percent tax rate.

Quizplus · Accepted Answer

The Answer of Table 4.6
Income Statement
Ace Manufacturing,Inc.
For the Year Ended December 31,2018 
-Ace Manufacturing,Inc.,is preparing pro forma financial statements for 2019.The firm utilized the percent-of-sales method to estimate costs for the next year.Sales in 2018 were $2 million and are expected to increase to $2.4 million in 2019.The firm has a 40 percent tax rate.

Table 4.6 Income Statement