Question: *Only Solve Part B, use part A below to solve. *Only Solve Part B, use part A below to solve. (5) 1b. Use the cash

*Only Solve Part B, use part A below to solve. *Only

*Only Solve Part B, use part A below to solve.

Solve Part B, use part A below to solve. (5) 1b. Use

*Only Solve Part B, use part A below to solve.

(5) 1b. Use the cash budget worked out in Part (a) and the following additional information to prepare a forecast income statement for the first half of 2017 for the XYZ Store. (Note that the store maintains a safety stock of inventory.) .Inventory at 12/31/16 was S240,000. Depreciation is taken on a straight-line basis on $260,000 of assets with an average remaining life of 10 years and no salvage value. The tax rate is 34 percent

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