National Beverage Company projects its 2014 sales to be $25,226,975. Given the following income statement for National Beverage Company for 2013, and the sales forecasts, prepare a pro forma income statement for 2014.

Income Statement for 2013

Sales revenue $ 24,088,000

Cost of goods sold $ (8,164,000)

Selling, general, and administrative expenses $ (7,616,000)

Depreciation Expenses $ (2,388,000)

EBIT $ 5,920,000

Interest expense $ (220,000)

Taxable income $ 5,700,000

Taxes $ (2,498,000)

Net income $ 3,202,000