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Larkspur Corporation had sales of $3,000,000 for the year ended December 31, 2022. The unit selling price was $10.In making the sales, the company incurred
Larkspur Corporation had sales of $3,000,000 for the year ended December 31, 2022. The unit selling price was $10.In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $773,000 $795,000 Selling expenses 125,000 61,000 Administrative expenses 242,000 70,000 Prepare a GAAP income statement. LARKSPUR CORPORATION GAAP Income Statement V $ Net Income/(Loss) Operating Expenses Gross Profit Administrative Expenses Total Operating Expenses Selling Expenses Sales Fixed Costs $ Cost of Goods Sold Contribution Margin Variable Costs $ LARKSPUR CORPORATION CVP Income Statement Total Per Unit Percent of Sal $ $ Total Variable Costs Fixed Costs Cost of Goods Sold Contribution Margin Selling Expenses Sales Net Income/(Loss) Variable Costs Total Fixed Costs Administrative Expenses Gross Profit $ $
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