Pro forma income statement
At the end of last year, Roberts Inc. reported the following income statement (in millions of dollars):
Sales $3,000
Operating costs excluding depreciation 2,450
EBITDA $550
Depreciation 250
EBIT $300
Interest 125
EBT $175
Taxes (40%) 70
Net income $105
Looking ahead to the following year, the company's CFO has assembled this information: Year-end sales are expected to be 11% higher than the $3 billion in sales generated last year. Year-end operating costs excluding depreciation are expected to equal 70% of year-end sales. Depreciation is expected to increase at the same rate as sales. Interest costs are expected to remain unchanged. The tax rate is expected to remain at 40%. On the basis of that information, what will be the forecast for Roberts' year-end net income? Enter your answer in millions. For example, an answer of $25,000,000 should be entered as 25. Round your answer to two decimal places.