A proposed new investment has projected sales of $606,000. Variable costs are 44 percent of sales, and fixed costs are $136,500; depreciation is $53,750. Prepare a pro forma income statement assuming a tax rate of 25 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

A proposed new investment has projected sales of $605,000. Variable costs are 44 percent of sales, and fixed costs are $136,500; depreciation is $53,750. Prepare a pro forma income statement assuming a tax rate of 25 percent. What is the projected net income? (Input all amounts as positive values. Do not round intermediate calculations.)