Pro forma income statement for coming year

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Reference no: EM13971317

Vikings Inc., is developing a pro forma income statement for the coming year. The chief financial officer estimates that sales will be $150,000,000. If gross profits are historically 36% of sales, what is the expected cost of goods sold (in dollars)?

a) $36,000,000

b) $54,000,000

c) $64,000,000

d) $96,000,000

NOTE: In your Excel spreadsheet, all calculations must be included.

Reference no: EM13971317

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