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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): $3,000 Sales Operating costs

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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): $3,000 Sales Operating costs excluding depreciation EBITDA 2,450 $550 Depreciation 250 $300 EBIT Interest 125 $175 Taxes (40%) 70 $105 Net income Looking ahead to the following year, the company's CFO has assembled this information: Year-end sales are expected to be 14% higher than the $3 billion in sales generated last year. Year-end operating costs, excluding depreciation, are expected to equal 70% 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. $ million

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