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welcome to made simple today were going to be talking about how to create a pro forma income statement from scratch now pro forma income statement is basically an estimated income statement this is super useful in kind of getting idea of possible revenues or expenses or possible gross profit for an existing business for the future or maybe youre starting a new business either way its really useful in kind of getting an idea of how that business will go right all right so the first thing you need starting a pro forma income statement is you need to know a couple of assumptions so in this example were going to just say that we sell socks and we have three different types of socks that we sell in our business so we need to know so well just label these product one product two um and product three right so we need to know the dollars collected per unit um we need to know the sales tax collected on each item the revenue per unit or sales per unit we also need to know the cost per unit