Larkspur Corporation had sales of $3,000,000 for the year ended December 31, 2022. The unit selling...
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Larkspur Corporation had sales of $3,000,000 for the year ended December 31, 2022. The unit selling price was $10. In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable $773,000 125,000 242,000 Fixed $795,000 61,000 70,000 Prepare a GAAP income statement. Larkspur Corporation had sales of $3,000,000 for the year ended December 31, 2022. The unit selling price was $10. In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable $773,000 125,000 242,000 Fixed $795,000 61,000 70,000 Prepare a GAAP income statement.
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