Here is the information: Utilizing the fictitious company Tag-It Corporation, prepare next year's forecast with a pro forma income statement.

Need assistance with completing the attached spreadsheet. Here is the information:

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:

Click here to download the income statement.

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.

The total revenue numbers over the past 4 years for Tag-It Corporation were as follows: 

Values in Millions:

• 72,618
• 73,785
• 69,495
• 71,879

Determine whether you think Tag-It can hit the target of a 10% increase in sales next year.

The use of 3 scholarly sources (e.g., textbook, article from the CEC Library) is required.