Create pro forma statements of five year projections that are clear concise an

Create pro forma statements of five year projections that are clear concise and easy to read.XYZ Company INC.Profit and Loss StatementYear Ended December
31 20XX%Sales 1750450Returns and allowances 2752Net Sales 1747698 100.0Cost of SalesBeginning Inventory 50000Purchases 610162Production Labor
420108Ending Inventory 30000Total Cost of Sales 1050270 60.1Gross Profit 697428 39.9Selling ExpenseWages 75000Commissions 25000Marketing 25000Total
Selling Expenses 125000 7.2Operating ExpenseSalaries 225000Payroll taxes 29000Benefits 27000Office Supplies 500Postage 250Professional Fees 2000Telephone
850Utilities 950Training & Education 250Miscellaneous 50Total Operating Expense 285850 16.4Operating Profit:EBITDA 286578 16.4Other Income
(Expense)Interest (9650)Depreciation (12000)Amortization (2500)Total Other Income (Expense) (24150)Total Pre-tax Profit 262428 15.0Income Tax Allowance
118093Net Profit 144335 8.3

XYZ Company INC.

Balance Sheet

For Year Ending December 31 20XX

ASSETS

Current Assets

Cash 10525

Accounts Receivable 27000

Inventory 30000

Prepaid Expenses 2000

Total Current Assets 69525

Fixed Assets

Property:net of depreciation 215000

Equipment:net of depreciation 80000

Vehicles:net of depreciation 5000

Total Fixed Assets 300000

Total Assets 369525

LIABILITIES

Current Liabilities

Revolving lines of credit 20000

Accounts Payable 5000

Current Portion of Long-term Debt 15000

Total Current Liabilities 40000

Long-term Liabilities

Long-term debt and capital leases 45500

Loans payable to stockholders 60500

Total Long-term Liabilities 106000

Total Liabilities 146000

Stockholders Equity

Common stock 1000

Additional Paid-in Capital 25000

Retained Earnings (Cum from prior years) 53190

Retained Earnings (From current P&L) 144335

Total Stockholders Equity 223525

Total Liabilities and Stockholders Equity 369525