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Best Video Company is a manulacturer of video-conferencing products. Figyular units are manufactured to meet mabesing projections, and specisiled units are made after an ordar

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Best Video Company is a manulacturer of video-conferencing products. Figyular units are manufactured to meet mabesing projections, and specisiled units are made after an ordar is roculved. Maintaining the video-conferencing equipment is an important area of cusfomer sulstection. With the recket downtum in the eompuler industy, tevevideo-conferencing equigment seg-ere hat buffored, leading to a decline in Best Video's financial perfomance. The following income statement shows results for this yeac. (Cick the icon to view the inceme statement) Best Video's management team is in the process of preparing the budpet for next year and is studying the folowing information: (Click the ioon to viow the information.) Prepare a budgeted income statement for the year ending December 31, next yeas, (Round your antwers to the neavest wheie euro) Best Video Company Budgeted Income Statement for next year Data table Best Video Company Income Statement For the Year Ended December 31, this year (in thousands) Revenues: More info 1. Selling prices of equipment are expected to increase by 15% as the economic recovery begins. The selling price of each maintenance contract is expected to remain unchanged from this year. 2. Equipment sales in units are expected to increase by 4%, with a corresponding 4% growth in units of maintenance contracts. 3. Cost of each unit sold is expected to increase by 3% to pay for the necessary technology and quality improvements. 4. Marketing costs are expected to increase by 240,000, but administration costs are expected to remain at this year levels. 5. Distribution costs vary in fuoportion to the number of units of equipment sold. 6. Two maintenance technicians are to be hired at a total cost of 150,000, which covers wages and related travel costs. The objective is to improve customer service and shorten response time. 7. There is no beginning or ending inventory of equipment

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