Income statement for 2016 (in $) 2016 Sales 480,000 Costs (incl. depr.) 336,000 EBIT 144,000 25,000 33,320 85,680 Interest Taxes (28%) Net income Sales are expected to increase by 20% in 2017, while costs including depreciation are expected to reach 60% of sales. Interest expenses and the average tax rate are expected to stay constant. Prepare a pro forma income statement for 2017. What is the expected net income?