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ngbird Corporation had sales of $3,000,000 for the year ended December 31, 2022. The unit selling price was $15. In making the sales, the company incurred the following costs and expens ost of goods sold alling expenses dministrative expenses Variable $574,000 122,000 234,000 Fixed $770,000 63,000 79,000

ngbird Corporation had sales of $3,000,000 for the year ended December 31, 2022. The unit selling price was $15. In making the sales, the company incurred the following costs and expens ost of goods sold alling expenses dministrative expenses Variable $574,000 122,000 234,000 Fixed $770,000 63,000 79,000

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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Kingbird Corporation had sales of $3,000,000 for the year ended December 31, 2022. The unit selling price was $15. In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable eTextbook and Media $574,000 122,000 234,000 Prepare a GAAP income statement. V << > Fixed S $770,000 63,000 79,000 I KINGBIRD CORPORATION GAAP Income Statement $
Transcribed Image Text:Kingbird Corporation had sales of $3,000,000 for the year ended December 31, 2022. The unit selling price was $15. In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable eTextbook and Media $574,000 122,000 234,000 Prepare a GAAP income statement. V << > Fixed S $770,000 63,000 79,000 I KINGBIRD CORPORATION GAAP Income Statement $
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