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Question - 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 year-end 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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