PREPARE AN ESTIMATED INCOME STATEMENT FOR THE FOLLOWING:

With the given information, fill in the missing blanks on the ESTIMATED INCOME STATEMENT

elmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the ear is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit stimates of the costs for their departments during the year. A summary report of these estimates is as follows: Sales Cost of goods sold: Expenses: Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total expenses