Construct a proforma income statement using the information given below.

Ernies Echos, Inc. (EEI), projects unit sales for a new six-octave voice emulation implant as follows:

Year	Unit Sales
1	110,000
2	127,000
3	115,000
4	98,000
5	92,000
6	75,000

Total xed costs are $1,850,000 per year, variable production costs are $315 per unit, and the units are priced at $455 each. The equipment needed to begin production has an installed cost of $27,500,000. Because the implants are intended for professional singers, this equipment is considered industrial machinery and thus qualies as seven-year MACRS property. EEI is in the 22 percent marginal tax bracket. Construct the proforma income statement (using Excel) to compute net income and operating cash flow.