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Oakmont Corporation reported the following 2017 income statement (in millions): Sales $1,725.4 Cost of goods sold 970.3 Gross profit 755.1 Selling, general and administrative 313.4

Oakmont Corporation reported the following 2017 income statement (in millions):

Sales

$1,725.4

Cost of goods sold

970.3

Gross profit

755.1

Selling, general and administrative

313.4

R&D expenses

53.2

Other expenses, net

21.7

Operating profit

366.8

Interest expense

78.3

Income before taxes

$288.5

Forecast the 2018 income statement for Oakmont Corporation assuming a 3% increase in net sales and a continuation of the 2017 gross profit margin and percentage relation to net sales for each of the other expenses except for interest expense which will remain the same.

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