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Business, 05.05.2020 06:28 elsauceomotho

Calgary Industries is preparing a budgeted income statement for 2018. Predicted sales for the year are $730,000 and cost of goods sold is 40% of sales. The expected selling expenses are $81,000 and the expected general and administrative expenses are $90,000, which includes $23,000 of depreciation. The company’s income tax rate is 30%. The budgeted net income for 2018 is:

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