6. Directions: Use the information below to answer this question: In 20Y3: 1. Sales are...
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6. Directions: Use the information below to answer this question: In 20Y3: 1. Sales are expected to increase by 5 percent. 2. Gross margin will increase to 50 percent. 3. Operating expenses will increase to $40,100 (including $6,800 in depreciation). 4. The tax rate will be reduced to 48 percent. Selected financial information (000's): Sales Cost of goods sold Gross profi Operating expenses Pretax profit 20Y1 20Y2 $77,112 $78,030 39,168 39,474 37,944 38,556 33,660 33,660 4,896 2,142 2,448 2,142 2.448 4,284 Income tax expense Net profit after tax What is the projected net profit after tax in 20Y3? $415 $450 $243 $3,901
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