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Richardson Company Has Provided You with the Following Numbers Pulled

Question 164

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Richardson Company has provided you with the following numbers pulled from various budgets related to January 2014 activity:
 Cash balance from Cash Budget $12,000 Sales revenue from Sales Budget $300,000 Cost of goods sold from Cost of Goods Sold Budget 180,000Selling and administrative expenses from Selling and Administrative Expense Budget includes depreciation expense of $5,00050,000 Inter est expense from Cash Budget: 8,000\begin{array}{|l|r|}\hline \text { Cash balance from Cash Budget } & \$ 12,000 \\\hline \text { Sales revenue from Sales Budget } & \$ 300,000 \\\hline \text { Cost of goods sold from Cost of Goods Sold Budget } & 180,000 \\\hline \begin{array}{l}\text {Selling and administrative expenses from Selling and Administrative } \\\text {Expense Budget includes depreciation expense of } \$ 5,000\end{array} & 50,000 \\\hline \text { Inter est expense from Cash Budget: } & 8,000\\\hline\end{array}
Prepare a pro-forma income statement for Richardson Company

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