Question
Cumulative XYZ has sales of $4,800,000.COGS is 40%,operating expenses (excluding depreciation) are 35%,interest expense is 1%of sales, depreciation expense is $30,000.Tax rate 40%. Using the
Cumulative XYZ has sales of $4,800,000.COGS is 40%,operating expenses (excluding depreciation) are 35%,interest expense is 1%of sales, depreciation expense is $30,000.Tax rate 40%. Using the previous income statement as your base year construct a proforma income statement for 2022 using the percent of sales method. Growth 10%, Depreciation remains at $30,000. Answer the below question.
What is the 2022 expected net profit?
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Mylab Accounting With Pearson -- Access Card -- For Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
5th Edition
0134161645, 9780134161648
