Fuzzy Button Clothing Company

Income Statement for Year Ending December $31$

$\backslash$table$[[,$Year $1,$Year $2($Forecasted$)],[$Net sales,$$20,000,000,],[$Less: Operating costs, except depreciation and amortization,$14,000,000,],[$Less: Depreciation and amortization expenses,$800,000,800,000],[$Operating income $($or EBIT$),$$$5,200,000,],[$Less: Interest expense,$520,000,],[$Pre$-$tax income $($or EBT$),$$$4,680,000,],[$Less: Taxes $(40\%),1,872,000,],[$Earnings after taxes,$$2,808,000,$$