INCOME STATEMENT Edmonds Industries is forecasting the following income statement: Sales Operating costs excluding depreciation & amortization EBITDA Depreciation and amortization EBIT Interest EBT Taxes (40%) Net income The CEO would like to see higher sales and a forecasted net income of $1,895,400. Assume that operating costs (excluding depreciation and amortization) are 55% of sales and that depreciation and amortization and interest expenses will increase by 6%. The tax rate, which is 40%, will remain the same. (Note that while the tax rate remains constant, the taxes paid will change.) What level of sales would generate $1,895,400 in net income? If necessary, round your answer to the nearest dollar at the end of the calculations. $9,000,000 4,950,000 $4,050,000 900,000 $3,150,000 720,000 $2,430,000 972,000 $1,458,000 $9385600