New Ventures Enterprises Inc. Is considering a proposal to invest 600,000 in new Cell Telephone Product. Production equipment which will be depreciated on a straight-line basis with a 6-year life, and no salvage value. The projected

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                    New Ventures Enterprises Inc.

                               Income Statement

Sales                                                              $565,000

Cost of goods sold

Variable manufacturing cost   $100,000

Direct labor cost                       $150,000

Fixed manufacturing cost        $52,500

Total cost of goods sold                                $302,500

Gross Profit                                                     $262,500

Operating Expenses

Selling and administrative                              $74,000

Operating profit                                               $188,500

Income tax expenses at 15%                           $28,275

Net Income                                                       $160,225

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