Using common-size financial statements. The S&H Construction Company expects to have total sales next year totaling $14,900,000. In addition, the firm pays taxes at 35 percent and will owe $2860,000 in interest expense. Based on last year's operations the firm's management predicts that its cost of goods sold will be 58 percent of sales and operating expenses will total 26 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.)

Can you please show how you got each answer. Thank You. Pro-Forma Income Statement

Sales: _____________ Cost of goods sold: ______________ Gross Profit: ___________________ Operating Expenses: _____________ Net Operating Income: ____________ Interest Expense: ________________ Earning Before Taxes: ____________ Taxes: ________________________ Net Income: ___________________