-Please refer to the spreadsheet above.Selected assumptions are given for preparing pro forma financial statements for 2015.When the pro formas are completed,which of the following formulas would correctly give the forecast for cost of goods sold in cell C9?
Definitions:
Earnings Distributed
Refers to the portion of a company's net income that is paid out to shareholders as dividends.
Accumulated Earnings
The total net income retained in a company for growth, expansion, and/ or reserve purposes, not distributed as dividends.
Financial Statements
Financial statements are formal records of the financial activities and position of a business, person, or other entity, presented in a structured manner.
Sales
The total revenue generated from goods or services sold by a company within a specific period.
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