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PRO FORMA INCOME STATEMENT At the end of last year, Roberts Inc. reported the following income statement (in millions of dollars):

Sales $3,000

Operating costs excluding depreciation 2,450

EBITDA $ 550

Depreciation 250

EBIT $ 300

Interest 125

EBT $ 175

Taxes (40%) 70

Net income $ 105

Looking ahead to the following year, the company’s CFO has assembled this information: ● Year-end sales are expected to be 10% higher than the $3 billion in sales generated last year. ● Year-end operating costs, excluding depreciation, are expected to equal 80% of yearend sales. ● Depreciation is expected to increase at the same rate as sales. ●

Interest costs are expected to remain unchanged. ●

The tax rate is expected to remain at 40%. On the basis of that information, what will be the forecast for Roberts’ year-end net income?

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