Question 59 (1 point) Listen A projected income statement on an accrual basis will provide limited information on the firm's ability to generate cash. 1) True 2) False Question 60 (1 point) E Listen Phi Co. projects sales of $1,535,000 for the year. It projects that its variable expense rate for the year will be 63 percent. How much in variable expenses will it incur for the year? 1) $967,050 2) $1,193,000 3) $1,535,000 4) $895,000 Quortion (114