Which Is NOT a Step in Performing a Projected Financial

Multiple Choice

Which is NOT a step in performing a projected financial analysis?

A) Prepare the projected income statement before preparing the balance sheet
B) Forecast sales as accurately as possible
C) Use the percentage-of-sales method to project CGS
D) Subtract from the net income any dividends to be paid for that year and bring this retained earnings amount over to the balance sheet
E) Use the revenue account as the plug figure