Construct a pro forma income statement for the first year and second year for the following assumptions:

• Units of Sales in Year 1: 110,000 .

•Price per Unit: $11 .

•Variable cost per unit: 30% .

•Fixed Costs: $125,000 .

•Income taxes: 15% .

•Interest Expense: $200,000 . •In year 2, Price per unit increases to $11.50, and unit of sales increases by 5%, all other assumptions remain the same.

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