Answer Happy

Attempts Keep the Highest / 10 6. Problem 17.07 (Pro Forma Income Statement) BE ܀ eBook At the end of last year, Roberts Inc. reported the following income statement (in millions of dollars): $3,000 2,450 $550 250 $300 124 $176 44 $132 Looking ahead to the following year, the company's CFO has assembled this information: Sales Operating costs excluding depreciation EBITDA Depreciation EBIT Interest EBT Taxes (25%) Net income $ ▪ Year-end sales are expected to be 12% higher than the $3 billion in sales generated last year. ▪ Year-end operating costs, excluding depreciation, are expected to equal 80% of year-end sales. ▪ Depreciation is expected to increase at the same rate as sales. ▪ Interest costs are expected to remain unchanged. ▪ The tax rate is expected to remain at 25%. On the basis of that information, what will be the forecast for Roberts' year-end net income? Enter your answer in millions. For example, an answer of $25,400,000 should be entered as 25.40. Do not round intermediate calculations. Round your answer to two decimal places. million