The finance team of an automobile company is drafting budget for succeeding year. Arrange the steps in preparing a budget. team computes annual expenses such as electricity bills, wages and taxes. all departments submit yearly estimated expenses. team prioritizes purchase of new machinery for improved production. team dedicates some funds for emergency. submits report of estimated income and expense data. estimates fund needed for yearly bonus and employee training. ↓ ↓ ↓ ↓ ↓

He taylor company sells music systems. each music system costs the company $100 and will be sold to the public for $250. in year one, the company sells 100 gift cards to customers for $250 each ($25,000 in total). these cards are valid for just one year, and company officials expect them to all be redeemed. in year two, only 96 of the cards are returned. what amount of net income does the company report for year two in connection with these cards? a. $15,000b. $15,400c. $15,500d. $15,800