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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Fundamentals Of Corporate Finance

ISBN: 9780073382302

6th Edition

Authors: Richard A Brealey, Stewart C Myers, Alan J Marcus

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