Cold Goose Metal Works Inc Income Statement for Year Ending December 31 Year 2 (Forecasted) Year 1 Net sales $30,000,000 19,500,000 1,200,000 $9,300,000 930,000 8,370,000 3,348,000 $5,022,000 300,000 4,722,000 2,259,900 $2,462,100 Less: Operating costs, except depreciation and amortization Less: Depreciation and amortization expenses Operating income (or EBIT) Less: Interest expense Pre-tax income (or EBT 1,200,000 Less: Taxes (40%) Earnings after taxes Less: Preferred stock dividends Earnings available to common shareholders Less: Common stock dividends Contribution to retained earnings $3,044,962