A proposed new investment has projected sales of ($900,000.) Variable costs are 60 percent of sales, and

Question:

A proposed new investment has projected sales of $$900,000.$ Variable costs are 60 percent of sales, and fixed costs are $$250,000;$ depreciation is $$75,000.$ Prepare a pro forma income statement assuming a tax rate of 35 percent. What is the projected net income?

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