Income Statement Pro Forma

Pro-Forma Income Statement XYZ, Inc. For 2003 through 2006 (all numbers in $000) REVENUE 2003 2004 2005 2006 Gross sales $500 $650 $720 $850 Less sales returns and allowances 200 230 280 320 Net Sales $300 $420 $440 $530 COST OF SALES Beginning inventory $350 $360 $420 $435 Plus goods purchased /manufactured 120 165 185 190 Total Goods Available $470 $525 $605 $625 Less ending inventory 360 420 435 440 Total Cost of Goods Sold $110 $105 $170 $185 Gross Profit (Loss) $190 $315 $270 $345 OPERATING EXPENSES Selling Salaries and wages $35 $41 $46 $52 Commissions 12 14 16 18 Advertising 10 12 14 20 Depreciation 14 15 16 16 Other 5 6 6 7 Total Selling Expenses $76 $88 $98 $113 General/Administrative Salaries and wages $12 $14 $16 $18 Employee benefits 4 5 5 6 Payroll taxes 2 3 3 4 Insurance 6 6 7 7 Rent 8 8 9 9 Utilities 2 2 2 3 Depreciation & amortization 3 4 4 5 Office supplies 1 1 1 1 Travel & entertainment 3 3 3 4 Postage 1 1 1 2 Equipment maintenance & rental 0 0 1 1 Interest 0 1 1 2 Furniture & equipment 3 4 4 5 Total General/Administrative Expenses $45 $52 $57 $67 Total Operating Expenses $121 $140 $155 $180 Net Income Before Taxes $69 $175 $115 $165 Taxes on income 22 32 26 28 Net Income After Taxes $47 $143 $89 $137 Extraordinary gain or loss $0 $0 $43 $0 Income tax on extraordinary gain 0 0 12 0 NET INCOME (LOSS) $47 $143 $120 $137 © Copyright, 2006, Jaxworks, All Rights Reserved.JaxWorks Small Business Spreadsheet Factory Since 1996, JaxWorks has offered a suite of Free Excel workbooks and spreadsheets, and associated documents, that cover a number of financial, accounting and sales functions. These are invaluable Also included Free are: -business plan tools, including spreadsheets and excellent instructions -Excel functions glossary and guide; -free training courses for most Microsoft Office applications. These guides are in PDF format and rival commercial books! -comprehensive list of acronyms, ratios and formulas in customer financial analysis, and financial terms; -suite of online calculators, including, breakeven analysis, productivity analysis, business evaluation; -Altman Z-Score (covering publicly and privately held firms, and small businesses); -and payroll analysis. If you are involved in financial analysis at any level, or want to learn more about MS Excel and suite this site is invaluable. Spreadsheet Factory spreadsheets, and associated MS Word, PDF and HTML functions. These are invaluable small business tools. guides are in about MS Excel and other applications in the Office