Posted: June 29th, 2022

Forecast the Income Statement Use the sales growth assumption to forecast sales for the next fiscal year. Use cost level assumptions to forecast all the operating expenses

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Forecast the Income Statement Use the sales growth assumption to forecast sales for the next fiscal year. Use cost level assumptions to forecast all the operating expenses. At this first stage, we typically leave nonoperating expenses and revenues unchanged from prior-year dollar levels. We return to fine tune these after we forecast the balance sheet. Forecast a preliminary tax expense and net income. We need those numbers to complete the balance sheet.

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