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Calcor Company has been a wholesale distributor of automobile parts for domestic automakers for 20 years. Calcor has suffered through the recent slump in the domestics auto industry, and its performance has not rebounded to the levels of the industry as a whole.Calcor’s single-step income statement for the year ended November 30, 2008 as followsCALCOR COMPANYIncome StatementFor the Year Ended November 30, 2008 (Thousands omitted)Net Sales $8,400Expenses:Cost of goods sold 6,300Selling Expenses 780Administrative Expenses 980Interest Expense 140Total 8,120Income before income taxes 280Income taxes 112Net Income $168• Prepare a single-step pro forma income statement for Calcor Company for the year ended November 30, 2009, assuming that Calcor’s planned actions would be carried out, and that a 5% increase in unit sales would be realized.• Calculate the following ratios for Calcor Company for the 2008-2009 fiscal year:o Return on sales before interest and taxes.o Turnover of average assets.o Return on average assets before interest and taxes.
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