pro forma income statement

pro forma income statement
Percent of sales: Cattail Corporation”s financial statements for the fiscal year just ended are shown below:
Cattail Corporation
Financial Statements for Fiscal Year just Ended ($ thousands)
Income Statement
Balance Sheet
Net Sales
$15,000
Assets
$700
Debt
$600
Costs
350
Equity
$100
Net Income
$1,150
Total
$700
Total
$700
Cattail management expects sales to increase by 14 percent next year. Assume that the financial statement accounts vary directly with changes in sales and that management has no financing plan at this time. Given this information, develop a pro forma income statement for Cattail for the next fiscal year.