A proposed new investment has projected sales of $770,000. Variable costs are 65 percent of sales, and fixed costs are $166,000; depreciation is $67,000. Prepare a pro forma income statement assuming a tax rate of 34 percent. What is the projected net income?

Question 8 options:

1)

$12,410

2)

$12,750

3)

$13,230

4)

$13,847

5)

$14,620