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7. Problem 3.15 (Income Statement) E clock fl Problem Walk-Through ' _ , Edmunds industries is forecastan the following Income statement: Saies $9,000,000 Operating costs excluding depreciation & amortization 4,950,000 EBITDA $4,050,000 Depreciaon and amortization 810,000 EIIT $3,240,000 Interest 450.000 EBT $2,790,000 Taxes (25%) 697,500 Net Income $2,092,500 E.=. he CEO would like to see higher sales and a faracasted net income of $2,910,000. Assume that operating costs (excluding depreciation and amortization) are 55% of sales and that depreciation and amortization and interest expenses will increase by 13%. The tax rate, which is 25%, will remain the same. (Note that while the tax rate remains constant, the taxes paid will change.) What level of saies would generate $2,910,000 In net Income? Round your answer to the nearest dollar. If necessary. t Grade it Now Save 8. Continue Continue without saving