Pro-Forma Income Statement

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

REVENUE
Gross sales
Less sales returns and allowances
Net Sales

2003
$500
200
$300

2004
$650
230
$420

2005
$720
280
$440

2006
$850
320
$530

COST OF SALES
Beginning inventory
Plus goods purchased / manufactured
Total Goods Available
Less ending inventory
Total Cost of Goods Sold

$350
120
$470
360
$110

$360
165
$525
420
$105

$420
185
$605
435
$170

$435
190
$625
440
$185

Gross Profit (Loss)

$190

$315

$270

$345

OPERATING EXPENSES
Selling
Salaries and wages
Commissions
Advertising
Depreciation
Other
Total Selling Expenses

$35
12
10
14
5
$76

$41
14
12
15
6
$88

$46
16
14
16
6
$98

$52
18
20
16
7
$113

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

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

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

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

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

Total Operating Expenses

$121

$140

$155

$180

Net Income Before Taxes

Taxes on income
Net Income After Taxes

$69
22
$47

$175
32
$143

$115
26
$89

$165
28
$137

$0
0

$0
0

$43
12

$0
0

$47

$143

$120

$137

Extraordinary gain or loss

Income tax on extraordinary gain
NET INCOME (LOSS)

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