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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
- 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
- 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.
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