Table 3.4 Hennesaw Lumber, Inc, estimates that its sales in 2018 will be $4,500,000. Interest expense is to remain unchanged at $105,000 and the firm plans to pay cash dividends of $150,000 during 2018. Hennesaw Lamber, Inc.'s income statement for the year ended December 31, 2017 is shown below Income Statement Hennesaw Lumber, Inc. For the Year Ended December 31, 2017 Sales Revenue $4,200,000 Less: Cost of goods sold 3.570.000 Gross Profits $630,000 Less: Operating Expenses 210.000 Operating profits $420,000 Less: Interest expense 105.000 Net profits before taxes $315,000 Less: Taxes (40%) 126.000 Net profits after taxes $189,000 Less: Cash dividends 120,000 To: Retained earnings 569,000 The pro forma net profits after taxes for 2018 are (See Table 3.4) Question Completion Status: For the Year Ended December 31, 2017 Sales Revenue $4,200,000 Less: Cost of goods sold 3.570,000 Gross Profits $630,000 Less: Operating Expenses 210.000 Operating profits $420,000 Less: Interest expense 105.000 Net profits before taxes $315,000 Less: Taxes (40%) 126,000 Net profits after taxes Less: Cash dividends 120.000 To: Retained earnings $69,000 The pro forma net profits after taxes for 2018 are (See Table 3.4) S202,500. $57,000. $52,500. $207,000. Click Save and Submit to save and submit. Click Save All Answers to save all answers