$($Using common$-$size financial statements$)$ The S&H Construction Company expects to have total sales next year totaling $$15,400,000.$ In addition, the firm pays taxes at $35$ percent and will owe

$$307,000$ in interest expense. Based on last year's operations the firm's management predicts that its cost of goods sold will be $62$ percent of sales and operating expenses will total $28$ percent.

What is your estimate of the firm's net income $($after taxes$)$ for the coming year?

Complete the pro$-$forma income statement below: $($Round to the nearest dollar.$)$

Pro$-$Forma Income Statement

Sales

Cost of goods sold

Gross profit

Operating expenses

Net operating income

Interest expense

Earnings before taxes

Taxes

Net income