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Construct a budgeted income statement for next three years

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Reference no: EM133008976

Question - Martin Corporation expects sales to be $1,000,000 next year and for sales to grow at 10% for two years. Additionally, Martin expects variable costs to be 40% of sales and fixed costs to be $200,000 for each of the next three years. Taxes will be 25% of operating profit. Construct a budgeted income statement for the next three years.

Reference no: EM133008976

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