You are evaluating a new product. In year 3 of your analysis, you are projecting pro forma sales of $5.5 million and cost of goods sold of $3.30 million. You will be depreciating a $1.4 million machine for 5 years using straight-line depreciation. Your tax rate is 25%. Finally, you expect net working capital to increase from $210,000 in year 2 to $305,000 in year 3 . What are your pro forma earnings for year 3 ? What is your pro forma free cash flow for year 3 ? Complete the following pro forma statement. (Round to the nearest dollar.)