At the end of last year, Edwin Inc. reported the following income statement (in millions of dollars):

Sales	$4,270
Operating costs excluding depreciation	3,035
EBITDA	$1,235
Depreciation	340
EBIT	$895
Interest	140
EBT	$755
Taxes (40%)	302
Net income	$453

Looking ahead to the following year, the company's CFO has assembled this information:

Year-end sales are expected to be 6% higher than $4.27 billion in sales generated last year.

Year-end operating costs, including depreciation, are expected to increase at the same rates as sales.

Interest costs are expected to remain unchanged.

The tax rate is expected to remain at 40%.

On the basis of this information, what will be the forecast for Edwin's year-end net income? Round your answer to the nearest whole million. Do not round intermediate calculations. Enter all values as positive numbers.

	(in millions of dollars)
Sales	$
Operating costs including depreciation
EBITDA	$
Depreciation
EBIT	$
Interest
EBT	$
Taxes
Net income	$

Answer rating: 100% (QA)

Solution Sales 4270 Year end sale is expected to be higher 6 427... View the full answer