A&P is interested in predicting its income statement for the year 2021. The company estimates that its sales in 2021 will be $5500000. Using the fixed and variable cost data, Find the following: 5 A&P Company Income statement For the Year Ended December 31, 2020 Sales 2000000 Less: Cost of goods sold Variable cost 1450000 Fixed cost 10000 540000 20000 34000 6000 Gross profit Less: Operating expenses Selling expense (all variable) Utility expense (all variable) Depreciation expensefall variable) Operating profit Less: Interest expense (all fixed) Nel profit before taxes Less: Taxes (10%) Nel profit after taxes 480000 12000 468000 46800 421200 O BI 831 A&P is interested in predicting its income statement for the year 2021. The company estimates that its sales in 2021 will be $5500000. Using the fixed and variable cost data, Find the following: 5 A&P Company Income statement For the Year Ended December 31, 2020 Sales 2000000 Less: Cost of goods sold Variable cost 1450000 Fixed cost 10000 540000 20000 34000 6000 Gross profit Less: Operating expenses Selling expense (all variable) Utility expense (all variable) Depreciation expensefall variable) Operating profit Less: Interest expense (all fixed) Nel profit before taxes Less Taxes (10%) Net profit after taxes 480000 12000 468000 46800 421200 O BE 83" A&P's Total cost of goods sold in 2021: A&P's Depreciation Expense in 2021: A&P's Total operating expenses in 2021 A&P's Net profit after taxes in 20213 Question 6 Not yet answered All firm financial statements for the financial year 2020 comprise the following data. Net income: dollar 16043 O