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Looking ahead to the following year, the company's CFO has assembled this information: - Year-end sales are expected to be 5% higher than $4,15 billion
Looking ahead to the following year, the company's CFO has assembled this information: - Year-end sales are expected to be 5% higher than $4,15 billion in sales generated last year. - Year-end operating costs, excluding depreciation, will equal 80% of sales. - Depreciation costs are expected to increase at the same rate as sales. - Interest costs are expected to remain unchanged. - The tax rate is expected to remain at 40%. On the basis of this information, what will be the forecast for Edwin's year-end net income? Enter your answers in millions. For example, an answer of $10,550,000 should be entered as 10,55 . Enter all values as positive numbers, Do not round intermediate calculations. Round your answers to two decimal places
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