6. Calculating Net Income. The owner of a bicycle repair shop forecasts revenues of $160,000 a year.
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6. Calculating Net Income. The owner of a bicycle repair shop forecasts revenues of $160,000 a year. Variable costs will be $50,000, and rental costs for the shop are $30,000 a year. Depre- ciation on the repair tools will be $10,000. Prepare an income statement for the shop based on these estimates. The tax rate is 35%. (LO2)
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780073382302
6th Edition
Authors: Richard A Brealey, Stewart C Myers, Alan J Marcus
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