Armaplex Security Company hired to forecast their revenues and expenses for the next two years. The following information is provided to you related to revenues and expenses: Revenues Inflation Rate GDP Growth Rate 2016 $1.5 million 2017 $1.9 million 2% 3% 2018 $2.7 million 2.5% 4% 2019 $2.3 million 3% 5% - $50,000 - $20,000 2020 $1.4 million Salaries and Wages (Commission based) - $150,000 • Office Rent - $100,000 2.4% 3% 2021 $1.7 million 1.9% The expected Inflation rate and GDP Growth Rate of 2022 are 2% and 3% respectively. The expected Inflation rate and GDP Growth Rate of 2023 are 1.5% and 4% respectively. 2% Expenses of the company include both fixed and variable expenses. In 2021, the following expenses were recorded: . • Depreciation Expense • Delivery Expense (Products) ing the above information calculate the following: a) Using the 5-year average growth rate, forecast the revenue and expenses of Armaplex for 2022 and 2023.

Armaplex Security Company hired to forecast their revenues and expenses for the next two years. The following information is provided to you related to revenues and expenses: Revenues Inflation Rate GDP Growth Rate 2016 $1.5 million 2017 $1.9 million 2% 3% 2018 $2.7 million 2.5% 4% 2019 $2.3 million 3% 5% - $50,000 - $20,000 2020 $1.4 million Salaries and Wages (Commission based) - $150,000 • Office Rent - $100,000 2.4% 3% 2021 $1.7 million 1.9% The expected Inflation rate and GDP Growth Rate of 2022 are 2% and 3% respectively. The expected Inflation rate and GDP Growth Rate of 2023 are 1.5% and 4% respectively. 2% Expenses of the company include both fixed and variable expenses. In 2021, the following expenses were recorded: . • Depreciation Expense • Delivery Expense (Products) ing the above information calculate the following: a) Using the 5-year average growth rate, forecast the revenue and expenses of Armaplex for 2022 and 2023.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 12EB: Reference Figure 12.15 and use the following information to complete the requirements. A. Determine...

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