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SOLVED: Forecasted Income Statement (20 points: 5 for showing work, 15 for accuracy)Sales (all on credit) Cost of Goods Sold Gross Profit Selling and Administrative Expense Rent Expense Depreciation Expense Operating profit (EBIT) Interest expense Net Income before Taxes Taxes Net Income Shares Earnings per Share 2020 1,200,000 (800,000) 400,000 (224,900) (15,000) (65,000) 95,100 (35,000) 60,100 (36,900) 23,200 60,000 0.39 DURA-CLEAR WINDOWS, LLC Proforma Income Statement 2021 1,500,000 (1,040,0

SOLVED: What are forecasted financial statement and Additional Funds Needed (AFN) equation? What advantages does the forecasted financial statement method of financial planning have over the AFN equation for forecasting financial requirements?

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