Question: Problem 2 (5 Points) Christy Enterprises reports the year-end information from 2020 as follows: Christy is developing the 2021 budget. In 2021 the company would

Problem 2 (5 Points) Christy Enterprises reports the year-end information from

Problem 2 (5 Points) Christy Enterprises reports the year-end information from 2020 as follows: Christy is developing the 2021 budget. In 2021 the company would like to increase selling prices by 10%, and as a result expects a decrease in sales volume of 5%. Cost of goods sold as a percentage of sales is expected to increase to 62%. Other than depreciation, all operating costs are variable. Required: Prepare a budgeted income statement for 2021

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