Current X

          Year % of sales
Sales   3372475000  
Cost of goods sold   741944500 22.00%
Gross profit   2630530500  
Less: Sales, distribution and marketing expense 1146641500 0.34
 
Administrative  expense         215838400 2021
6% 2022 2023
Sales
Operating Profit     1268050600 3621195031
  3888258165 4175017204
Cost of goods
Finance income sold     202348500 796662906.96% 855416796.3 918503785
Gross profit
Finance cost     236073250 2824532124 7% 3032841369 3256513419
Less: before
Profit Sales, distribution
tax and marketing expense
    1234325850 1231206311
  1322007776 1419505850
Administrative expense
Income tax expense (25%)     308581463 23175648225% 248848522.5 267201101.1
Operating
Net Profit
profit for the   1361569332 1461985070 1569806469
year
Finance income         925744388 217271701.9
  233295489.9 250501032.3
Finance cost   253483652.2 272178071.5 292251204.3
Profit before tax   1325357381 1423102488 1528056297
Income tax expense (25%)   331339345.4 355775622.1 382014074.2
Net profit for the year       994018036.1 1067326866 1146042223

FORECASTED INCOME STATEMENT

ASSUMPTIONS:

The financial statements are denominated in Taka. Sales growth rate is calculated from the past 4
years (2016-2019) of revenue using average growth rate method:

-4.11% 0.11% 12.33% 21.17%

We took an average value of growth rate to calculate the pro-forma income statement. The
average growth rate is 7.38%. Since, it will be a new subsidiary we have calculated an
approximate amount of sales and have forecasted the future sales using the growth rate. Finance
income and cost would also be a constant of 6% and 7% respectively over the year.
We have assumed that over the years the tax rate will be constant 25%.