Question: Please start with the data in the prior problem concerning New Madrid Corporation. In projecting the proforma second years income statement for New Madrid, assume

Please start with the data in the prior problem concerning New Madrid Corporation. In projecting the proforma second years income statement for New Madrid, assume that sales increase by 20% in the second year of operation, variable costs of goods sold stay at 20% of sales, fixed cost of sales increase by 10% over the second year, selling and administrative cost increase by 5% and taxes remain at 30% of pretax profit. Please calculate New Madrid Corporations projected after-tax income for the second year of operation.

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