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The Berndt Corporation expects to have sales of $10 million. Costs other than depreciation are expected...

The Berndt Corporation expects to have sales of $10 million. Costs other than depreciation are expected to be 80% of sales, and depreciation is expected to be $1 million. All sales revenues will be collected in cash, and costs other than depreciation must be paid for during the year. Brendt's federal-plus-state tax rate is 40%. Berndt has no debt.

  1. Set up an income statement. What is Berndt's expected net income? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000.
    $    

    What is Berndt's expected net cash flow? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000.
    $    
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SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

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