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The following income statements are provided for Li Company's last two years of operation: Number of units produced and sold Sales revenue Cost of
The following income statements are provided for Li Company's last two years of operation: Number of units produced and sold Sales revenue Cost of goods sold Gross margin General, selling, and administrative expenses Net income Year 1 Year 2 4,500 4,100 $69,750 $63,550 41,700 38,000 28,050 25,550 17,500 16,300 $10,550 $ 9,250 Assuming that cost behavior did not change over the two-year period, what is the company's annual fixed general, selling, and administrative cost?
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