Income Statement Prepare the budgeted income statement. Cash Flows Balance Sheet Budgeted Income Statement Sales revenue Cost of goods sold Depreciation expense Operating income Interest expense Net income 33 ›› $ 372,000 X (336,000) X (4,000) X 32,000 X (840) X $ 31,160
Income Statement Prepare the budgeted income statement. Cash Flows Balance Sheet Budgeted Income Statement Sales revenue Cost of goods sold Depreciation expense Operating income Interest expense Net income 33 ›› $ 372,000 X (336,000) X (4,000) X 32,000 X (840) X $ 31,160
Chapter7: Budgeting
Section: Chapter Questions
Problem 16MC: Which of the following includes only financial budgets? capital asset budget, budgeted income...
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![Income
Statement
Prepare the budgeted income statement.
Cash Flows Balance Sheet
Budgeted Income Statement
Sales revenue
Cost of goods sold
Depreciation expense
Operating income
Interest expense
Net income
$ 372,000 X
(336,000) X
(4,000)
32,000 X
(840) X
$ 31,160](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F094417f3-df05-4742-9cce-815e609c7f38%2F49df03e7-f1ed-4ddf-a4cb-fa9ed52c9edc%2Fgn68ybg_processed.png&w=3840&q=75)
Transcribed Image Text:Income
Statement
Prepare the budgeted income statement.
Cash Flows Balance Sheet
Budgeted Income Statement
Sales revenue
Cost of goods sold
Depreciation expense
Operating income
Interest expense
Net income
$ 372,000 X
(336,000) X
(4,000)
32,000 X
(840) X
$ 31,160
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