A proposed new investment has projected sales of $650,000. Variable costs are 65 percent of sales, and fixed costs are $154,000; depreciation is $55,000. Prepare a pro forma income statement assuming a tax rate of 34 percent. What is the projected net income? (Input all amounts as positive values.)

Sales =

Variable costs =

Fixed costs =

Depreciation =

EBT =

Taxes =

Net income =