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Mini-Case 12-5: A Projected Income Statement
You want to start your own retail furniture store, and you have already gathered a great deal of information on location, layout, form of ownership, business failure rates, etc. In applying for a loan, you notice that a projected income statement is required. Your problem is to complete this projected "P&L," given a desired income of $23,000 and the following published statistics. Show and clearly label all of your work!
Cost of Goods Sold 60.3 percent of net sales
Operating Expenses 36.4 percent of net sales
Gross Profit Margin 39.7 percent of net sales
-If a market survey indicates that your firm's sales would be $620,000, what net profit would you expect to earn?
Frank Stella
An American painter and printmaker, known for his work in the areas of minimalism and post-painterly abstraction.
Postmodernist Architecture
An architectural style that emerged in the late 20th century, characterized by its departure from modernist purism, embracing complexity, contradiction, diversity, and integrating historical elements in eclectic fashion.
Eclecticism
An architectural and art style that combines elements from different historical styles and periods in one work.
Communicative Power
The ability or capacity of something, such as art, literature, or speech, to convey messages, emotions, or information effectively to its audience.
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