Qusetion: A proposed new investment has projected sales of $760,000. Variable costs are 60 percent of sales, and fixed costs are $165,000; depreciation is $66,000. Prepare a pro forma income statement assuming a tax rate of 30 percent. What is the projected net income? (Input all amounts as positive values. Do not round intermediate calculations.)
| Sales |
$ |
| Variable costs |
|
| Fixed costs |
|
| Depreciation |
|
| EBT |
$ |
| Taxes |
|
| Net income |
$ |