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Haas Company manufactures and sells one product. The following information pertains to each of the company's of operations: During its first year of operations, Haas
Haas Company manufactures and sells one product. The following information pertains to each of the company's of operations: During its first year of operations, Haas produced 40,000 units and sold 40,000 units. During its second year of o produced 55,000 units and sold 30,000 units. In its third year, Haas produced 20,000 units and sold 45,000 units price of the company's product is $54 per unit. Prepare an income statement for Year 1, Year 2, and Year 3. Assume the company uses absorption costing. (Round your intermediate calculations to 2 decimal places.)
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