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QUESTION
Top executive officers of Leach Company, a merchandising firm, are preparing the next year's budget.
Top executive officers of Leach Company, a merchandising firm, are preparing the next year’s budget. The controller has provided everyone with the current year’s projected income statementCurrent yearSales Revenue $2,600,000Cost of goods sold 1,690,000Gross Profit 910,000Selling & admin. Expenses 325,000Net income $ 585,000
