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Question - Calcor Company has been a wholesale distributor of automobile parts for domestic automakers for 20 years. Calcor has suffered through the recent slump in the domestics auto industry, and its performance has not rebounded to the levels of the industry as a whole.
Calcor's single-step income statement for the year ended November 30, 2008 as follows
CALCOR COMPANY Income Statement For the Year Ended November 30, 2008 (Thousands omitted)
Net Sales $8,400
Expenses:
Cost of goods sold 6,300
Selling Expenses 780
Administrative Expenses 980
Interest Expense 140
Total 8,120
Income before income taxes 280
Income taxes 112
Net Income $168
Prepare a single-step pro forma income statement for Calcor Company for the year ended November 30, 2009, assuming that Calcor's planned actions would be carried out, and that a 5% increase in unit sales would be realized.
Calculate the following ratios for Calcor Company for the 2008-2009 fiscal year:
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