Saved Help Save & Exit Submit 9 Problem 2-37 Income Statement (LG2-1) Check my work 2 points Listed below is the 2021 income statement for Tom and Sue Travels, Inc. Book Print References TOM AND SUE TRAVELS, INC. Income Statement for Year Ending December 31, 2021 inions of dollars) Net sales $16.600 Less: cost of goods sold 7.500 Cross profits 39.100 Les Other operating expenses 3.400 Earnings before Interest, taxes, depreciation and amortization (EBITDA) 5.700 Less Depreciation 2.300 Earnings before interest and taxes (EDIT) 53.400 Les Interest 0.765 Earnings before taxes (3) $ 2.635 1001 Taxes 0.553 Not Income $ 2.082 The CEO of Tom and Sue's wants the company to earn a net income of $2.450 million in 2022 Cost of goods told is expected to be 50 percent of net sales, depreciation and other operating expenses are not expected to change, Interest expense is expected to increase to $1.231 million, and the firm's tax rate will be 21 percent Calculate the net sales needed to producent income of $2450 million interveur answer in millions of dollars rounded to 3 ME Graw HIN Help Save & Exit Submit 9 Check my work $16.600 7.500 $ 9.100 1.400 2 points Net sales Less: Cost of goods sold Gross profits Less Other operating expenses Earnings before Interest, taxes, depreciation, and amortization (EBITDA) Less: Depreciation Earnings before interest and taxes (ET) Less Interest Earnings before taxes (EBC) Less taxes Net Income $ 5.700 2.300 $ 3.400 0.765 $ 2.635 0.553 $ 2.082 eBook Print References The CEO of Tom and Sue's wants the company to earn a net income of $2.450 million in 2022. Cost of goods sold is expected to be 50 percent of net sales, depreciation and other operating expenses are not expected to change, interest expense is expected to Increase to $1231 million, and the firm's tax rate will be 21 percent. Calculate the net sales needed to produce net income of $2.450 million (Enter your answer in millions of dollars rounded to 3 decimal places.) Net soos million