9. Problem 3.15 (Income Statement) eBook Problem Walk-Through Edmonds Industries is forecasting the following income...
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9. Problem 3.15 (Income Statement) eBook Problem Walk-Through Edmonds Industries is forecasting the following income statement: Sales $9,000,000 Operating costs excluding depreciation amortization 4,950,000 EBITDA $4,050,000 Depreciation and amortization 990,000 COIT $3,060,000 interest 900,000 EBT 2,160,000 Taxes (25%) 540,000 Net Income $1,620,000 The CEO would like to see higher sales and a forecasted newcome of $2,190,000. Assume that operating costs (excluding depreciation and amortization) are 55% a sales and than depreciation and amortization and interest expenses will increase by 13%. The tax rate, which is 254. Wil remain the same. (Note that while the tax rate remains constant, the taxes paid will change.) What level of sales would generate $2,190,000 in net income? Round your answer to the nearest dolar, if necessary $
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