The most recently completed income statement for PPR Corporation is given below, along with assumptions for the following year. Use this information and create a projected income statement for the company.

Sales15,000,000COGS 6,000,000Gross 9,000,000Operating Expenses 7,500,000Depreciation and Amortization 400,000EBIT 1,100,000Interest Expense 300,000EBT 800,000Taxes 240,000Net Income 560,000Shares 300,000EPS $ 1.87Sales increase by 20%COGS as a percentage of sales falls by 200 basis pointsOperating Expenses as a percentage of sales falls by 100 basis pointsDepreciation and Amortization increases by 20%The company issues $1,000,000 of additional debt at an interest rate of 7%The company retires $500,000 of existing debt at an interest rate of 12%The tax rate will remain the sameThe company sells an addition 50,000 shares of stock