Last Year, a Firm Had Net Income of $508,000 on Sales

question 60

Multiple Choice

Last year, a firm had net income of $508,000 on sales of $1,250,000. The projected sales for next year are $1,450,000. Assume the firm uses the percentage of sales method for pro forma statements. What is the projected net income?

• A)$589,280
• B)$599,390
• C)$639,200
• D)$650,500
• E)$701,900

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