Minden Company Budgeted Income Statement For the Month of May Sales $294,000 Beginning inventory 37,750 Gross margin 256,250 Ending inventory 77,000 Net operating income 179,250
Minden Company Budgeted Income Statement For the Month of May Sales $294,000 Beginning inventory 37,750 Gross margin 256,250 Ending inventory 77,000 Net operating income 179,250 Selling and administrative 101,900 expenses Net income $77,350
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