Create a pro forma Income Statement and Balance Sheet for the company’s current fiscal year. Incorporate (a) the information provided in their current financial statements, (b) additional information obtained from financial ratios, and (c) guidance based on additional research. Provide a detailed rationale for each number based on research.
I don’t know which data is needed or how to calculate.
Please help!
Here is their income statement and balance sheet from their most recent quarterly report (ending on Dec. 31, 2019):
Income Statement (for the year 2019):
*all numbers are in millions
Revenue: $67,151
Costs Of Goods Sold: $30,162
Gross Profit: $37,029
Operating Expenses: $56,870
Operating Income: $10,291
Pre-Tax Income: $9,312
Income After Taxes: $7,353
Net Income: $7,314
EPS: $5.20
Balance Sheet (for the year 2019):
*all numbers are in millions
Cash on Hand: $5,738
Inventory: $3,338
Total Current Assets: $17,645
Total Long-Term Assets: $60,902
Total Assets: $78,547
Total Current Liabilities: $20,461
Total Long-Term Liabilities: $43,218
Total Liabilities: $63,679
Shareholder Equity: $14,868
Total Liabilities and Shareholder Equity: $78,547
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