Question: CAN SOME ONE PLEASE HELP WITH THIS PROBLEM Income Statement Hermann Industries is forecasting the following income statement: The CEO would like to see higher
CAN SOME ONE PLEASE HELP WITH THIS PROBLEM
Income Statement Hermann Industries is forecasting the following income statement: The CEO would like to see higher sales and a forecasted net income of $3, 276,000. Assume that operating costs (excluding depreciation and amortization) are 55% of sales and that depreciation and amortization and interest expenses will increase by 15%. The tax rate, which is 40%, will remain the same. What level of sales would generate $3, 276,000 in net income? If necessary, round your answer to the nearest dollar at the end of the calculations
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