Solve the Problem. -An Accountant Tabulated a Firm's Profits for Four Recent Years

question 52

Multiple Choice

Solve the problem.
-An accountant tabulated a firm's profits for four recent years in the following table: The accountant then fit both a linear graph and an exponential curve (seen below) to the data, in order to estimate future profits. Use the linear graph to estimate the profits in the year 2002.

• A) About $800,000
• B) About $500,000
• C) About $1,000,000
• D) About $900,000

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Definitions:

Pro Forma Financial Statements

Financial statements that project the financial position of a company, based on certain assumptions and typically used for future planning.

Sales Forecast

A sales forecast is the process of estimating future sales. Accurate sales forecasts enable companies to make informed business decisions and predict short-term and long-term performance.

Financial Forecasting

The process of estimating or predicting how a business will perform in the future through its financial statements.

FA/Sales Ratio

The Fixed Asset to Sales Ratio compares a company's total amount of fixed assets to its sales revenue, indicating how efficiently the company uses its fixed assets to generate sales.