BE9-8 - income statement for the year ending December 31,...

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BE9-8 Stoker Company has completed all of its operating budgets. The sales budget for the year shows 50,000 units and total sales of $2,000,000. The total unit cost of making one unit of sales is $24. Selling and administrative expenses are expected to be $300,000. Income taxes are estimated to be $150,000. Prepare a budgeted
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Unformatted text preview: income statement for the year ending December 31, 2005. Stoker Company Income Statement For the Year Ending Dec 31, 2006 Sales 2,000,000 Cost of goods Sold 1,200,000 50,000 units * $24 = cost per unit Gross Profit 800,000 Selling &Administrative Expense 300,000 Operating Income 500,000 Income Taxes 150,000 Net Income 350,000...
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