Search this course mework INCOME STATEMENT Edmonds Industries is forecasting the following income statement: Sales Operating costs excluding depreciation & amortization 3,850,000 EBITDA Depreciation and amortization EBIT Interest $7,000,000 $3,150,000 700,000 $2,450,000 560,000 $1,890,000 756,000 $1,134,000 EBT Taxes (40%) Net income The CEO would like to see higher sales and a forecasted net income of $1,871,100. Assume that operating costs (excluding depreciation and amortization are 55% of sales and that depreciation and amortization and interest expenses will increase by 10%. The tax rate, which is 40%, will remain the same. (Note that while the tax rate remains constant, the taxes paid will change.) What level of sales would generate $1,871,100 in net income? It necessary round your answer to the nearest dollar at the end of the calculations