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Question - ABC Manufacturing produces metal lampposts. The company's income statement for the last two years is given below. The company has no beginning or ending inventories.
Last year
This year
Units sold
60,000
85,000
Sales
$1,440,000
$2,040,000
Less cost of goods sold
785,000
1,060,000
Gross margin
655,000
980,000
Less operating expenses
237,000
312,000
Net income
$418,000
$668,000
Required - Determine the company's total fixed costs.
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