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Ozark Industries reported net income of $75 million in 2005. The company's corporate tax rate was 40%, and its interest expense was $25 million. The company had $500 million in sales and its cost of goods sold was $350 million. Ozark's goal is for its net income to increase by 20% (to $90 million) in 2006. It forecasts that the tax rate willremain at 40%, interest expense will increase by 40%, and cost of goods sold will remain at 70% of sales. What level of sales (to the closest million) will Ozark have to produce in 2006 in order to meet its goal for net income?
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