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Top executive officers of Leach Company, a merchandising firm, are preparing the next year's budget. The controller has provided everyone with the current year's projected income statement

Current year

Sales Revenue $2,600,000

Cost of goods sold 1,690,000

Gross Profit 910,000

Selling & admin. Expenses 325,000

Net income $ 585,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9436593

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