Ch 2 Homework a Saved Help Save & Exit Submit Check my work 2 Listed below is the 2018 income statement for Tom and Sue Travels, Inc. 10 points Skipped TOM AND SUE TRAVELS, INC. Income Statement for Year Ending December 31, 2018 (in millions of dollars) Net sales $16.400 Less: Cost of goods sold 7.400 Gross profits $ 9.000 Less: Other operating expenses 3.350 Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 5.650 Less: Depreciation 2.200 Earnings before interest and taxes (EBIT) $ 3.450 Less: Interest 0.760 Earnings before taxes (EBT) 5 2.690 Less: Taxes 0.855 Net income $ 1.835 eBook Print References The CEO of Tom and Sue's wants the company to earn a net income of $2.380 million in 2019. Cost of goods sold is expected to be 60 percent of net sales, depreciation and other operating expenses are not expected to change, interest expense is expected to increase to $0.860 million, and the firm's tax rate will be 30 percent. Calculate the net sales needed to produce net income of $2.380 million. (Enter your answer in millions of dollars rounded to 3 decimal places.) Net sales million