management predicts that its cost of goods sold will be $55$ percent of sales and operating expenses will total $27$ percent. What is your estimate of the firm's net income $($after taxes$)$ for the coming year?

Complete the pro$-$forma income statement below: $($Round to the nearest dollar.$)$

Pro$-$Forma Income Statement

Sales $

Cost of goods sold

Gross profit

Operating expenses

Net operating income

Interest expense

Earnings before taxes

Taxes

$

$

$

Net income

$