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Business, 05.05.2020 17:45 salterappraisal5757

Calgary Industries is preparing a budgeted income statement for 2018 and has accumulated the following information. Predicted sales for the year are $740,000 and cost of goods sold is 40% of sales. The expected selling expenses are $82,000 and the expected general and administrative expenses are $91,000, which includes $24,000 of depreciation. The company's income tax rate is 30%. The budgeted net income for 2018 is:

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