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The following income statements are provided for two companies operating in the same industry. Revenue Variable costs Contribution margin Fixed costs Net income Felix Company
The following income statements are provided for two companies operating in the same industry. Revenue Variable costs Contribution margin Fixed costs Net income Felix Company $188,000 (22,560) 165,440 (84,374) $ 81,066 Jinx Company $188,000 (84,374) 103,626 (22,560) $ 81,066 Assuming sales increase by $940, select the correct statement from the following: Felix's net income will be more than Jinx's. O Only Felix will experience an increase in profit. Felix's net income will increase by $250. Jinx's net income will increase by 6%
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