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What net income appear on company income statement budget

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Question - The Hawthorne Company buys tables for $140 and sells them for $260 each; the company has the following sales forecast:

August 2,000 units

September 2,800 units

October 3,100 units

Ending inventory for each month should be 20% of the next month's sales. The company had 36 units of inventory and $23,000 in cash on August 1st. The company has rent of $14,500 and fixed payroll of $38,200 each month. For August, what net income would appear on the company's income statement budget?

Reference no: EM133129749

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