5. Problem 3.15 (Income Statement) eBook Problem Walk-Through Edmonds Industries is forecasting the following income statement Sales $5,000,000 Operating costs excluding depreciation & amortization 4.400,000 EBITDA $3,600,000 Depreciation and amortization 580,000 EBIT $2,720,000 Interest 800,000 $1,920,000 Taxes (259) 480,000 Net Income $1.440,000 The CEO would like to see higher sales and forecasted net income of $2,090,000. Assume that operating costs (exduding depreciation and amortization) are 55% of sales and that depreciation and amortization and interest expenses will increase by 15%. The tax rate, which is 25%, will remain the same. (Note that while the tax rate remains constant, the tres paid will change.) What level of sales would generate 52,090,000 in net income? Round your answer to the nearest dollar necessary ET $