D G H - 2 3 A proposed new investment has projected sales of $635,000. Variable costs are 44 percent of sales, and fixed costs are $193,000; depreciation is $54,000. Prepare a pro forma income statement assuming a tax rate of 21 percent. What is the projected net income? 4 5 6 635,000 7 os 8 9 Projected sales Variable cost (% of sales) Fixed cost $ Depreciation $ Tax rate Print 193,000 54,000 2196 10 erences Complete the following analysis. Do not hard code values in your calculations. 13 14 15 16 $ 635,000 279,400 193,000 54,000 17 Sales Variable costs Fixed costs Depreciation EBT Taxes Net Income 18 19 20 21 22 Sheet1 1OON READY Attempt(s)