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Here is the 2019 Income Statement for Karnes automotive (numbers in millions) (next page...):Sales$16.5COGS 7.1Costs 3.2Depreciation and Amortization 2.9EBIT$ 3.3Interest 0.95EBT$ 2.35Taxes (30%) 0.71Net Income$

Here is the 2019 Income Statement for Karnes automotive (numbers in millions) (next page...):Sales$16.5COGS 7.1Costs 3.2Depreciation and Amortization 2.9EBIT$ 3.3Interest 0.95EBT$ 2.35Taxes (30%) 0.71Net Income$ 1.65The CEO wants the company to earn a net income of $2.65 million in 2020. Cost of goods sold is expected to be 75% of sales; depreciation and other costs are not expected to change; interest expense is expected to increase to $1.050 million; the tax rate will be 30%. Calculate the sales needed to produce net income of $2.65 million.

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