Wells Fargo reported the following 2015 income statement

Project Wells Fargo's income statement assuming a 4% increase in sales, a 37% effective tax rate, and a continuation of the 2015 percentage relation to net sales for expenses except for interest where the company projects no change.

Total revenue Cost of revenue Gross profit Selling and administrative expenses Operating income Interest expense Income before income taxes Income tax expense Net income $6,400,250 2,980,300 3,419,950 1,875,200 1,544,750 263,900 1,280,850 473,915 806,935