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Please solve PRO FORMA INCOME STATEMENT At the end of last year, Roberts Inc. reported the following income statement (in millions of dollars): Sales Operating
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PRO FORMA INCOME STATEMENT At the end of last year, Roberts Inc. reported the following income statement (in millions of dollars): Sales Operating costs excluding depreciation 2,450 EBITDA Depreciation EBIT Interest EBT Taxes (40%) Net income Looking ahead to the following year, the company's CFO has assembled this information $3,000 $550 250 $300 125 $175 70 $105 * Year-end sales are expected to be 15% higher than the $3 billion in sales generated last year. * Year-end operating costs, excluding depreciation, are expected to equal 80% of year-end sales Depreciation is 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 that information, what will be the forecast for Roberts' year-end net income? Enter your answer in millions. For example, an answer of $25,000,000 should be entered as 25. Round your answer to two decimal places millionStep by Step Solution
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