The owner of a bicycle repair shop forecasts revenues of $212,000 a year. Variable costs will be
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Question:
The owner of a bicycle repair shop forecasts revenues of $212,000 a year. Variable costs will be $63,000, and rental costs for the shop are $43,000 a year. Depreciation on the repair tools will be $23,000. Prepare an income statement for the shop based on these estimates. The tax rate is 40%. (Input all amounts as positive values.)
INCOME STATEMENT(Click to select)Rental costsRevenuePretax profitDepreciationVariable costs
$ Rental costs(Click to select)Variable costsRevenuePretax profitDepreciation
(Click to select)DepreciationRevenueVariable costsPretax profit
(Click to select)DepreciationRevenuePretax profitRental costsVariable costs
(Click to select)Pretax profitRental costsRevenueTaxesDepreciation
(Click to select)Net lossNet income
$
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