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Apple prepared the following projected income statement information for 2016: Contribution margin .............. $900,000 Fixed costs ...................... 780,000 Net income ....................... 120,000 Assume that actual

Apple prepared the following projected income statement information for 2016: 
 
Contribution margin .............. $900,000 Fixed costs ...................... 780,000 Net income ....................... 120,000 
 
Assume that actual sales in 2016 were 30% higher than projected. 
Calculate the net income earned by Apple for 2016 

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