Business
Business, 16.04.2020 16:10, leslylinares454

Forecast Dexter's income statement assuming a 5% increase in sales, a 37% effective tax rate, and a continuation of the 2017 percentage relation to net sales for expenses except for interest where the company projects no change.

Dexter's 2017 Income Statement:
Total Revenue = $13,256,500
Cost of Revenue = 7,066,300
Gross Profit = 6,190,200
Selling and Administrative Expenses = 3,758,200
Operating Income = 2,432,000
Interest Expense = 572,800
Income before income taxes = 1,859,200
Income tax expense = 687,905
Net income = $1,171,295

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