Pro forma income statements. Green Planet, a restaurant supply company, has the following income…

Pro forma income statements. Green Planet, a restaurant supply company, has the following income statement accounts for 2013: Revenue $12,350,000 Fixed Costs $1,986,000 Interest Expense $806,790 Sales Returns $184, 120 SG & A Costs $1,412,900 COGS $5,541,300 Depreciation $966,340 Construct the income statement for 2013 with a tax rate of 39%. Then construct pro forma income statements for the years 2014, 2015, and 2016 if the company expects projected sales to rise annually at 3.5% and all the accounts have the same percentage of sales as in 2013. Redo the pro forma statements for 2014, 2015, and 2016 if fixed costs are truly fixed and remain at $1,986,000, but all other accounts listed will be at the same percentage of sales for the next three years as in 2013. Find the growth in net income each year. Net Income $ 886,055 Construct pro forma income statements for the years 2014, 2015, and 2016 if the company expects projected sales to rise annually at 3.5% and all the accounts have the same percentage of sales as in 2013. (NOTE: calculate the percentage of sales to five decimal places and use it to calculate the amounts that cannot be obtained otherwise, e.g., do not use it to calculate taxes.) Complete the projected income statements for 2014, 2015 and 2016 below. (Round to the nearest dollar.) Income Statement 2014 2015 2016 Revenue $ Returns $ Net Revenue $ Costs COGS $ Fixed Costs $ SG and A Costs $ Depreciation $ EBIT $ $ Interest Expense Taxable Income $ Taxes $ Net Income $ Growth in Net Income %