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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
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 EBITDA Depreciation EBIT Interest EBT Taxes (40%) Net income $3,000 2,450 $550 250 $300 125 $175 70 $105 Looking ahead to the following year, the company's CFO has assembled this information Year-end sales are expected to be 9% higher than the $3 billion in sales generated last year Year-end operating costs, excluding depreciation, are expected to equal 85% 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 156 X million
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