A proposed new investment has projected sales of $592,000. Variable costs are 41 percent of sales, and fixed costs are $135,000; depreciation is $53,000. 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