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Crane Company has completed all of its operating budgets. The sales budget for the year shows 40,000 units and total sales of $1,800,000. The total
Crane Company has completed all of its operating budgets. The sales budget for the year shows 40,000 units and total sales of $1,800,000. The total cost of producing one unit is $20. Selling and administrative expenses are expected to be $240,000. Interest is estimated to be $8,000. Income taxes are estimated to be $160,000. Prepare a budgeted multiple-step income statement for the year ending December 31, 2022
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