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Current Attempt in Progress A company requires $2000000 in sales to meet its net income target. Its contribution margin is 40%, and fixed costs are $300000. What is the target net income? $420000 $500000 $800000 $1020000

Current Attempt in Progress A company requires $2000000 in sales to meet its net income target. Its contribution margin is 40%, and fixed costs are $300000. What is the target net income? $420000 $500000 $800000 $1020000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Vikram bhai

Current Attempt in Progress A company requires $2000000 in sales to meet its net income target. Its contribution margin is 40%, and fixed costs are $300000. What is the target net income? $420000 $500000 $800000 $1020000
Transcribed Image Text:Current Attempt in Progress A company requires $2000000 in sales to meet its net income target. Its contribution margin is 40%, and fixed costs are $300000. What is the target net income? $420000 $500000 $800000 $1020000
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