Once receiving the coffee beans shipment, Lotus Coffee implements strict standards in the roasting process. It then packages these fabulous
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In addition, he pays himself dividends of $15,000 per month in lieu of salary. Lotus Coffee has a $250,000 line of credit that can be drawn from for short-term financing. Interest is paid quarterly, and it is calculated as 4.5% per year on the outstanding balance at the end of the previous quarter. The line of credit balance is zero at the beginning of fiscal 2023. Any excess cash is immediately used to pay down the line of credit. Find the budgeted income statement??