LO2 5 The pro forma income statements for all three growth rates will be

Lo2 5 the pro forma income statements for all three

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31.(LO2, 5)The pro forma income statements for all three growth rates will be: HOPINGTON TOURS INC. Pro Forma Comprehensive Statement of Income 20% Sales Growth 30% Sales Growth 35% SalesGrowthSales $1,114,800 $1,207,700 $1,254,150Costs 867,600 939,900 976,050Other expenses 22,80024,70025,650EBIT $ 224,400 $ 243,100 $ 252,450Interest 14,00014,00014,000Taxable income $ 210,400 $ 229,100 $ 238,450Taxes (35%) 73,64080,18583,457.50Net income $ 136,760$ 148,915$ 154,992.50Dividends $ 41,028 $ 44,674.50 $ 46,497.75Add to RE 95,732 104,240.50 108,494.75
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