Prepare an income statement for Year 2 for the Northern Division based on the estimates provided by the cost analyst and other managers at LTH. Note: Enter your answers in thousands e.g., 10,000,000 should be entered as 10,000. Round your answers to 2 decimal places. Enter negative amounts with a minus sign. Sales revenue Costs Cost of goods sold Advertising Administrative salaries LESSING TOY & HOBBY Northern Division Budgeted Income For the Year 2 Ending January 31 ($000) Sales commissions Rent and occupancy expense Allocated corporate support Total costs Net profit (loss) before tax benefit Tax benefit at 25% Net profit (loss) $ $ $ $ $ $ Base 12,040 6,020 490 810 1,624 2,058 1,330 12,332 (292) (73) (219) Budget
Prepare an income statement for Year 2 for the Northern Division based on the estimates provided by the cost analyst and other managers at LTH. Note: Enter your answers in thousands e.g., 10,000,000 should be entered as 10,000. Round your answers to 2 decimal places. Enter negative amounts with a minus sign. Sales revenue Costs Cost of goods sold Advertising Administrative salaries LESSING TOY & HOBBY Northern Division Budgeted Income For the Year 2 Ending January 31 ($000) Sales commissions Rent and occupancy expense Allocated corporate support Total costs Net profit (loss) before tax benefit Tax benefit at 25% Net profit (loss) $ $ $ $ $ $ Base 12,040 6,020 490 810 1,624 2,058 1,330 12,332 (292) (73) (219) Budget
Accounting Information Systems
10th Edition
ISBN:9781337619202
Author:Hall, James A.
Publisher:Hall, James A.
Chapter9: Database Management Systems
Section: Chapter Questions
Problem 1P: The Mega Supply Corporation has three divisions: Commercial Products, Consumer Products, and...
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