3./ Calculating Projected Net Income (L01] A proposed new investment has projected sales of $830,000. Variable costs are 60 percent of sales, and fixed costs are $181,000; depreciation is $77,000. Prepare a pro forma income statement assuming a tax rate of 35 percent. What is the projected net income? V. Calculating OCF [L01] Consider the following income statement: $824,500 538,900 126,500 Sales Costs Depreciation EBIT Taxes (34%) Net income ? ? ? V Fill in the missing numbers and then calculate the OCF. What is the depreciation tax shield? OCF from Several Approaches [LO1] A proposed new project has projected sales of $108,000, costs of $51,000, and depreciation of $6,800. The tax rate is 35 percent. Calculate operating cash flow using the four different approaches described in the chapter and verify that the answer is the same in each case