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Data from various budgets to go by is below. What is the budgeted income statement for third quarter of the year?
Data from various budgets to go by is below.
What is the budgeted income statement for third quarter of the year?
(for the company's bank to use so the company can get a loan)
Sales forecast: $185,000
Interest expense: $2,400
Selling and administrative expenses: $74,450
Cost of goods sold: $56,800
(Company's income tax rate is 30%)
(Income before taxes: $51,350)