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Wernke Company has the following totals from its operating budgets for November: Cost of goods sold $1,967,000 Sales 2,530,000 Selling and administrative expenses 322,000 Prepare

Wernke Company has the following totals from its operating budgets for November: Cost of goods sold $1,967,000 Sales 2,530,000 Selling and administrative expenses 322,000 Prepare a budgeted income statement for the month of November assuming a 30% income tax rate.

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