Question: A&P is interested in predicting its income statement for the year 2021. The company estimates that is sales in 2021 will be $5500000 Using the
A&P is interested in predicting its income statement for the year 2021. The company estimates that is sales in 2021 will be $5500000 Using the feed and variable cost data, Find the following: ASP Company Income statement For the Year Ended December 31, 2020 Sales 2000000 Less: Cost of goods sold Variable cost 1450000 Fixed cost 10000 Gross profit 540000 Less: Operating expenses Selling expense (all variable) 20000 Uity expense (all variable) 34000 Depreciation expensefall variable) 5000 Operating profit 480000 Less: Interest expense (all fixed) 12000 Net profit before taxes 468000 Less: Taxes (10%) 46800 Net profit after taxes 421200 ABP's Total cost of goods sold in 2001: A&P's Depreciation Expense in 2021 ASP's Total operating expenses in 2021 ASP's Net profit after taxes in 2021
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