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Vaughn Company has completed all of its operating budgets. The sales budget for the year shows 46,000 units and total sales of $2,070,000. The total

Vaughn Company has completed all of its operating budgets. The sales budget for the year shows 46,000 units and total sales of $2,070,000. The total cost of making one unit of sales is $26. It estimates selling and administrative expenses to be $278,000 and income taxes to be $178,800. Prepare a budgeted income statement for the year ending December 31, 2022.

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