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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 14% higher than the $3 billion in sales generated last year. - Year-end operating costs, excluding depreciation, are expected to equal 80% 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%. On the basis of that information, what will be the forecast for Roberts' year-end net income? Enter your answer in millions. For example, an answer of $400, 000 should be entered as 25.40. Do not round intermediate calculations. Round your answer to two decimal places. million
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