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14-10-2022
Business

Answered

he data shown were obtained from the financial records of Italian Exports, Inc., for March:

Estimated Sales $610,000
Sales 567,932
Purchases 294,828
Ending Inventory* 10%
Administrative Salaries 50,300
Marketing Expense 5%
Sales Commissions 2%
Rent Expense 7,700
Depreciation Expense 1,300
Utilities 2,300
Taxes* 15%
of next month's sales

of estimated sales

of income before taxes

Sales are expected to increase each month by 10%.

Prepare a budgeted income statement. Round your answers to the nearest dollar.

Answer :

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