What is the projected net income

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Problem 1: Last year, a firm had net income of $508,000 on sales of $1,250,000. The projected sales for next year are $1,450,000. Assume the firm uses the percentage of sales method for pro forma statements. What is the projected net income?

Multiple Choice

Option 1: $650,50

Option 2: $589,280

Option 3: $599,390

Option 4: $639,200

Option 5: $701,900

Reference no: EM132709902

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