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A&P is interested in predicting its income statement for the year 2021. The company estimates that its sales in 2021 will be $5000000. Using the
A&P is interested in predicting its income statement for the year 2021. The company estimates that its sales in 2021 will be $5000000. Using the fixed and variable cost data, Find the following: A&P Company Income statement For the Year Ended December 31, 2020 2000000 Sales Less: Cost of goods sold 1450000 Variable cost 10000 Fixed cost 540000 20000 Gross profit Less: Operating expenses Selling expense (all variable) Utility expense (all variable) Depreciation expensefall variable) Operating profit 34000 6000 480000 A&P's Total cost of goods sold in 2021 A&P's Depreciation Expense in 2021 A&P's Total operating expenses in 2021 A&P's Net profit after taxes in 2021
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