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A proposed new investment has projected sales of $ 5 6 4 , 0 0 0 . Variable costs are 3 7 percent of sales,

A proposed new investment has projected sales of $564,000. Variable costs are 37 percent of sales, and fixed costs are $132,000; depreciation is $51,500. Prepare a pro forma income statement assuming a tax rate of 21 percent. What is the projected net income? (Input all amounts as positive values. Do not round intermediate colculations.)
\table[[Sales,],[Variable costs,],[Fixed costs,],[Depreciation,],[EBT,],[Taxes,],[Net income,]]
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