Use the information below to prepare a pro-forma income statement and balance sheet for the next year

Income statement and Balance Sheet

Carlisle’s balance sheet as of December 31, 2022 appears in the below spreadsheet.

Use the information below to prepare a pro-forma income statement and balance sheet for the next year (as of December 31, 2023).


Sales are forecast to be $2,650,000 for next year

COGS to sales ratio will be 0.84

SG&A to sales ratio will be 0.14

Depreciation will be $8,300

Interest rate on loan is 10% per year

Tax rate will be 40%

The owners will be paid a dividend of $8,420

Firm would maintain a minimum cash balance of at least $40,000

The Days Sales Outstanding (DSO) will be 14 days

The Days Sales Inventory (DSI) will be 43 days

Firm plans to purchase a truck for $14,000 in the next year

Firm will continue to repay its existing bank loan in annual installments of $20,000 per year

Days Payables Outstanding (DPO) will be 21 days

Accrued expenses will stay at the same level of $11,300


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