• Prepare a budgeted income statement for Facebook, Inc. for the quarter ending March 31, 2024.
• Use the following projections:
  • Expected Sales: $400,000
  • Expected Cost of Goods Sold: $220,000
  • Expected Operating Expenses: $120,000
  • Expected Interest Expense: $10,000
  • Expected Income Tax Expense: $15,000

Question:

Using the given projections, prepare a budgeted income statement for Facebook, Inc. for the quarter ending March 31, 2024. Calculate the projected Net Income.