SOLUTION: Compute for budgeted income statement of XYZ Corporation. Below are the data of XYZ Corporation for the year ended December 31, 2020. Cost of Goods Sold P 2,600,000 Gross profi

Question 1187724: Compute for budgeted income statement of XYZ Corporation. Below are the data of XYZ Corporation for the year ended December 31, 2020.
Cost of Goods Sold P 2,600,000
Gross profit. 2,900,000
Operating income 2,000,000
Income Taxes. 133,000
Net income. 1,767,000
1.) How much is the sales revenue?
2.) How much is the selling and administrative expenses?
3.) How much is the interest expense?
4.) How much is the income before income taxes?
5.) What is the percentage of the income taxes?
Answer by ikleyn(52812) (Show Source): You can put this solution on YOUR website!
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