A proposed new investment has projected sales of $515,000. Variable costs are 47 percent of sales, and fixed costs are $130,000; depreciation is $50,500. Prepare a pro forma income statement assuming a tax rate of 22 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: