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Jordan Shoe Company provided the following information about the fiscal year ending December 31, 2022. Sales Revenue $1,200,000 Less, Variable expenses 480,000 Contribution Margin $
Jordan Shoe Company provided the following information about the fiscal year ending December 31, 2022. Sales Revenue $1,200,000 Less, Variable expenses 480,000 Contribution Margin $ 720,000 Less, Fixed expenses 504,000 Operating Income _$216,000 On January 1, 2022, the company had $800,000 in operating assets and during the year the company purchased an additional $200,000 of operating assets.
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