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Sheffield Company has completed all of its operating budgets. The sales budget for the year shows 48,100 units and total sales of $1,972,100. The total

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Sheffield Company has completed all of its operating budgets. The sales budget for the year shows 48,100 units and total sales of $1,972,100. The total cost of making one unit of sales is $25. It estimates selling and administrative expenses to be $303,000 and income taxes to be $139,980. Prepare a budgeted income statement for the year ending December 31, 2022

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