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Percentage of Sales Method

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Create a set of pro forma financials (income statement and balance sheet) for the next fiscal year-end using the percent-of-sales method assuming the company's sales have increased by 15%.

See the attachment for the existing income statement and balance sheet. A step by step description would be great so I can understand the process.

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The solution explains how to prepare pro-forma financial statements using the percentage of sales method.

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