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At the end of last year, Roberts Inc. reported the following income statement (in millions of dollars): Looking ahead to the following year, the company's
At the end of last year, Roberts Inc. reported the following income statement (in millions of dollars): Looking ahead to the following year, the company's CFO has assembled this information: - Year-end sales are expected to be 11% higher than the $3 billion in sales generated last year. - Year-end operating costs, excluding depreciation, are expected to equal 75% of year-end sales. - Depreciation is expected to increase at the same rate as sales. - Interest costs are expected to remain unchanged. - The tax rate is expected to remain at 25%. to two decimal places. $ million
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