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Construct a Pro Forma Income Statement using the company's sustainable growth rate as the projected...

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Accounting

Construct a Pro Forma Income Statement using the company's sustainable growth rate as the projected growth in sales. Use the MAX function to prevent negative taxes.
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HEIR JORDNCDPPDFTICN Proforma income statement: Sales Costs Tarable income Tares Net income Dividends Add. To Ret. Earnings \begin{tabular}{|lr|} \hline Curment Year & \\ Sales & 70,000 \\ TotalCosts (CDGS \& Admir & 55,000 \\ Cash & 3,,40 \\ Accouns receivable & 4,200 \\ Inventory & 6,500 \\ Netplant and equipment & 145,000 \\ Acoounts payable & 2,600 \\ Notespayable & 5,700 \\ Long-term debt & 28,000 \\ Commonstock 8 Paid-in C. & 5,000 \\ Petainedeamings & 11,540 \\ Dividends Paid & 4,200 \\ Netincome & 11,850 \\ Taxrate & 21/4 \\ \hline \end{tabular}

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