2. Examine the income statement of the publicly microsoft traded company

. Then, create a budgeted income statement for the coming year.

a. Note that the budgeted income statement should include the following: net sales, cost of goods sold, gross margin, selling and administration expenses, net operating income, interest expense (if any) and net income.

Note: Other templates of budgeted income statements may include alternate line items. Students should adapt their budgeted income statement to best suit the company they selected. For the purposes of this assignment, there should be approximately 7 13 line items.

A good website explaining how to create a budgeted income statement is found at good website

Other budgets that comprise the master budget (other than the budgeted income statement) do not need to be created.