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The owner of a bicycle repair shop forecasts revenues of $168,000 a year. Variable costs will be $52,000, and rental costs for the shop are
The owner of a bicycle repair shop forecasts revenues of $168,000 a year. Variable costs will be $52,000, and rental costs for the shop are $32,000 a year. Depreciation on the repair tools will be $12,000. Prepare an income statement for the shop based on these estimates. The tax rate is 30%. (Input all amounts as positive values.) INCOME STATEMENT $ Rental costs $
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