Using common-size financial statements) The S&H ConstructionS&H Construction Company expects to have sales next year totaling $ 14 comma 700 comma 000$14,700,000. In addition, the firm pays taxes at 2121 percent and will owe $293 comma 000293,000 in interest expense. Based on last year's operations, the firm's management predicts that its cost of goods sold will be 5858 percent of sales and operating expenses will total 2828 percent. What is your estimate of the firm's net income (after taxes) for the coming year? Question content area bottom Part 1 STEP 1: Picture the Problem A common-size financial statement is a standardized version of a financial statement in which all entries are presented in percentages. A pro-forma income statement is a statement of projected income and expenses. The common-size income statement not only allows us to quickly identify the relative importance of each type of expense, but it also permits us to make projections for the future by building the pro-forma income statement. Before building the pro-forma income statement, the company must first develop a sales forecast for the upcoming year. STEP 2: Decide on a Solution Strategy We will use the given projected data and the percentages of the different expenses with respect to the projected sales to construct the pro-forma income statement. Part 2 Complete the pro-forma income statement below:(Round to the nearest dollar.) Pro-Forma Income Statement Sales