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Below are the same records of the HTM Corp (imaginary). According to the given information, please answer the following question. If the Income Statement structure
Below are the same records of the HTM Corp (imaginary). According to the given information, please answer the following question. If the Income Statement structure is broken on your screen, adjust the size of the window of your screen; or use zoom in/out function until it shows correctly. Income Statement HTM Corp. Dec. 31, 2XX1 2XX2 Sales $1.200.000 $1.500.000 Cost of Sales $_360.000 $ 480,000 Gross Profit $ 840,000 $1,020,000 Payroll Expenses $ 300,000 $ 360.000 Gen, & Admin. Exp. $ 144,000 $ 180,000 Other Expenses $ 120,000 $ 180,000 $_276,000 $ 300,000 Income Taxes $ ??????? $ ??????? Net Income $ 165,600 $ 180,000 You are working on the budget of the year-3 (2XX3). During 2XX3, the amount of average assets will remain at $750,000 with no changes. The average total liabilities will be continuously $250,000 throughout the entire year. You anticipate your Asset Turnover ratio will be 1.8 (times) due to uncontrollable factor in the business environments. Determine the amount of the annual sales if you achieve the Asset Turnover ratio goal as anticipated. Round your answer to the nearest dollar ($). Please do not put "$" or "" in your answer. Just your answer as 12346 if your answer is $12,345.67
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