Pro-Forma Income Statement

XYZ, Inc.
For 2003 through 2006 (all numbers in $000)

REVENUE Gross sales Less sales returns and allowances Net Sales COST OF SALES Beginning inventory Plus goods purchased / manufactured Total Goods Available Less ending inventory Total Cost of Goods Sold Gross Profit (Loss) OPERATING EXPENSES Selling Salaries and wages Commissions Advertising Depreciation Other Total Selling Expenses General/Administrative Salaries and wages Employee benefits Payroll taxes Insurance Rent Utilities Depreciation & amortization Office supplies Travel & entertainment Postage Equipment maintenance & rental Interest Furniture & equipment Total General/Administrative Expenses Total Operating Expenses

2003 $500 200 $300

2004 $650 230 $420

2005 $720 280 $440

2006 $850 320 $530

$350 120 $470 360 $110 $190

$360 165 $525 420 $105 $315

$420 185 $605 435 $170 $270

$435 190 $625 440 $185 $345

$35 12 10 14 5 $76

$41 14 12 15 6 $88

$46 16 14 16 6 $98

$52 18 20 16 7 $113

$12 4 2 6 8 2 3 1 3 1 0 0 3 $45 $121

$14 5 3 6 8 2 4 1 3 1 0 1 4 $52 $140

$16 5 3 7 9 2 4 1 3 1 1 1 4 $57 $155

$18 6 4 7 9 3 5 1 4 2 1 2 5 $67 $180

Net Income Before Taxes Taxes on income Net Income After Taxes Extraordinary gain or loss Income tax on extraordinary gain NET INCOME (LOSS)

$69 22 $47 $0 0 $47

$175 32 $143 $0 0 $143

$115 26 $89 $43 12 $120

$165 28 $137 $0 0 $137

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