A proposed new investment has projected sales of $515,000. Variable costs are 47 percent of sales, and fixed costs are $130,000; depreciation is $50,500. Prepare a pro forma income statement assuming a tax rate of 22 percent. What is the projected net income? (Input all amounts as positive values. Do not round intermediate calculations.)

Net operating income= $122,611

Explanation:

Giving the following information:

A proposed new investment has projected sales of $515,000. Variable costs are 47 percent of sales, and fixed costs are $130,000; depreciation is $50,500. Prepare a pro forma income statement assuming a tax rate of 22 percent.

Income statement:

Sales= 515,000

Cost of sales= (515,000*0.47)= (242,050)

Gross profit= 272,950

Fixed costs= (130,000)

EBITDA= 142,950

Depreciation= (50,500)

EBIT= 92,450

Tax= (92,450*0.22)= (20,339)

Depreciation= 50,500

Net operating income= 122,611

2,283,000

explanation:

i just had to add it

answer; erp systems;