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The CEO of Tom and Sues wants the company to earn a net income of $2.730 million in 2013. Cost of goods sold is expected
The CEO of Tom and Sues wants the company to earn a net income of $2.730 million in 2013. 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 $0.885 million, and the firms tax rate will be 30 percent.
Calculate the net sales needed to produce net income of $2.730 million.
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