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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): Looking ahead to the
Pro forma income statement At the end of last year, Roberts Inc. reported the following income statement (in millions of dollars): Looking ahead to the following year, the company's CFO has assembled this information: Year-end sales are expected to be 11% 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. $ 156 million
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