The total revenue numbers over the past 4 years for Tag-It Corporation were as follows: Values in Millions
Utilizing the fictitious company Tag-It Corporation, prepare next year’s forecast with a pro forma income statement. Here is the current income statement for Tag-It: Use spreadsheet attached. Show work.
Tag-It’s CEO has predicted a 10% increase in total revenue next year. Utilizing the percentage of sales method, prepare a forecast for next year in the section provided on the Excel spreadsheet provided.
1. The total revenue numbers over the past 4 years for Tag-It Corporation were as follows: Values in Millions:
2. Determine whether you think Tag-It can hit the target of a 10% increase in sales next year.
Submit the Excel spreadsheet provided, saved with your name, which must include the answers to the 2 questions: 1. An updated forecast for next year, and 2. the answer to question regarding the target sales. The use of 1 scholarly sources (e.g., textbook, article from the CEC Library) is required.