(Common-size financial statements) The Solisto Construction Company expects to have total sales next year totaling $15,000,000. In addition, the firm pays taxes at 35 percent and will owe $300,000 in interest expense. Based on last year's operations, the firm's management predicts that its cost of goods sold will be 60 percent of sales and operating expenses will total 30 percent.

What is your estimate of the firm's net income (after taxes) for the coming year?