Selected information about a company is as follows: Current Year (Php thousands) Projection for Next Year (Php thousands) Sales 2,200 2,500 Variable operating 28% 30% costs (% of sales) Fixed operating 1,400 30% costs Tax rate 25% 25% Dividends paid 55 60 Interest bearing 500 500 debt at 5% The forecasted net income (in Php thousands) for next year is closest to (Please round your answer in the nearest whole number)