FIN 419 Expect Success/uophelp.com FIN 419 Expect Success/uophelp.com | Page 33

Transfer this income statement to an Excel spreadsheet and begin to
prepare a Pro Forma Income statement for 2016 based on the
following information:
1. Sales revenue to increase 5.2%, COGS to increase 4.5%,
S,G&A will increase 3.8% and depreciation expense will be
$3,255,000. Assume interest expense to be $375,000 and taxes are to
be 40% of taxable income. You will now have income statements for
2015 and 2016 for ICS Manufacturing.

This is the balance sheet information for ICS Manufacturing
Company:
ICS Manufacturing Company
Balance Sheet for year ending December 31, 2015
Assets
Liabilities
Cash
$2,625,000
Accounts
Payable
$5,825,000
Accounts Receivable $2,715,000
Other
Current Liabilities $3,365,000
Inventories
$1,514,000
Total Current Liabilities
$9,190,000
Total Current Assets $6,854,000

Long Term Assets
Long
Term Liabilities
P, P & E
$12,745,000
Long
Term Debt
$1,225,000
Goodwill
$1,205,000
Other LT Debt
$2,230,000
Intangible Assets
$5,275,000
Total LT
Liabilities
$3,455,000