Quantitative Problem: At the end of last year, Edwin Inc.reported the following income statement (in millions of dollars):Sales $4,150 Operating costs excluding depreciation 3,055 EBITDA$1,095 Depreciation 305 EBIT $790 Interest 160 EBT $630 Taxes (40%)252 Net income $378 Looking ahead to the following year, thecompany's CFO has assembled this information: •Year-end sales areexpected to be 5% higher than $4.15 billion in sales generated lastyear. •Year-end operating costs, including depreciation, areexpected to increase at the same rates as sales. •Interest costsare expected to remain unchanged. •The tax rate is expected toremain at 40%. On the basis of this information, what will be theforecast for Edwin's year-end net income? Round your answer to thenearest whole million. Do not round intermediate calculations.Enter all values as positive numbers. (in millions of dollars)Sales $ Operating costs including depreciation EBITDA $Depreciation EBIT $ Interest EBT $ Taxes Net income $
