Question: Attempted Keep the Highest / 10 6. Problem 17.07 (Pro Forma Income Statement) eBook At the end of last year, Roberts Inc reported the following
Attempted Keep the Highest / 10 6. Problem 17.07 (Pro Forma Income Statement) eBook At the end of last year, Roberts Inc reported the following income statement (in Millions of dollars): Sales $3,000 Operating costs excluding depreciation 2,450 EBITOA $550 Depreciation 250 EBIT $300 Interest 124 EST $176 Taxes (25%) Net Income $132 Looking ahead to the following year, the company's CFO has assembled this information Year-end sales are expected to be 7. higher than the $3 billion in sales generated last year Year-end operating costs, excluding depreciation, are expected to equal 75% 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
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