The key inputs for preparing pro forma income statements using the simplified approaches are the
A. sales forecast for the preceding year and financial statements for the coming year.
B. sales forecast for the coming year and the cash budget for the preceding year.
C. sales forecast for the coming year and financial statements for the preceding year.
D. cash budget for the coming year and sales forecast for the preceding year.
Answer:C
The key inputs for preparing pro forma income statements using the simplified approaches are the
A. sales forecast for the preceding year and financial statements for the coming year. B. sales forecast for the coming year and the cash budget for the preceding year. C. sales forecast for the coming year and financial statements for the preceding year. D. cash budget for the coming year and sales forecast for the preceding year.