Help Save & E Cher Problem 2-35 Income Statement (LG2-1) Listed below is the 2018 income statement for Tom and Sue Travels, Inc. TOM AND SUE TRAVELS, INC. Income Statement for Year Ending December 31, 2018 (in millions of dollars) Net sales $18.480 Less: Cost of goods sold 8.480 Gross profits $10.000 Less: Other operating expenses 3.850 Earnings before interest, taxes, depreciation, and amortization (EBITDA) $.6.150 Less: Depreciation 3.200 Earnings before interest and taxes (EBIT) $ 2.950 Less: Interest 8.810 Earnings before taxes (EBT) $ 2.140 Less: Taxes 2.955 Net income $ 1.185 ces The CEO of Tom and Sue's wants the company to earn a net income of $3.080 million in 2019. Cost of goods sold is expected to be 60 percent of net sales, depreciation and other operating expenses are not expected to change, interest expense is expected to increase to $0.910 million, and the firm's tax rate will be 30 percent. Calculate the net sales needed to produce net income of $3.080 million (Enter your answer in millions of dollars rounded to 3 decimal places.) Net sa 20.000.000 600 33 milion