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Utilizing the fictitious company Tag-It Corporation, prepare next year's forecast with a pro forma income statement. Here is the current income statement for Tag-It: Additionally, Tag-It's CEO has predicted a 12% increase in total revenue next year. Utilizing the percentage of sales method, prepare a forecast for next year in the correct section on the Excel spreadsheet.
1.) The total revenue numbers over the past 4 years for Tag-It Corporation were as follows (values in millions): 73,785, 69,495, 75,356, 71,879.
2.) Determine whether you think Tag-It can hit the target of a 12% increase in sales next year.
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Write formal document of your findings and include any required Excel support. Submit as a separate report; do not add to the previews report.
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