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S10-03 Calculating Projected Net Income [LO1] A proposed new investment has projected sales of $515,000. Variable costs are 36 percent of sales, and fixed costs
S10-03 Calculating Projected Net Income [LO1] A proposed new investment has projected sales of $515,000. Variable costs are 36 percent of sales, and fixed costs are $173,000; depreciation is $46,000. Prepare a pro forma income statement assuming a tax rate of 21 percent. What is the projected net income? (Do not round intermediate calculations.) Sales Variable costs Fixed costs Depreciation EBT Taxes Net income
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