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Paige Company has completed all of its operating budgets. The sales budget for the year exhibits 50,000 units and total sales of $2,000,000. The total unit cost of making one unit of sales is $22. Selling and administrative expenditures are expected to be $300,000. Income taxes are estimated to be $150,000.

Make a budgeted income statement for the year ending December 31, 2011.

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