Last Year, a Firm Had Net Income of $46,500 Last

question 92

Multiple Choice

Last year, a firm had net income of $46,500 last year on sales of $326,000. Sales are expected to be $365,120 next year. This firm uses the percentage of sales approach when compiling pro forma statements. What will be the projected net income?

• A) $50,137
• B) $52,080
• C) $55,987
• D) $59,876
• E) $67,890

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Definitions:

Personality Change

Significant and enduring alterations in an individual's behavioral, emotional, and attitudinal patterns.

Young Adulthood

A developmental stage typically covering the period from the late teens through the twenties, characterized by exploration, independence, and the establishment of one's personal and professional identity.

Maturation

The process of becoming mature; the process of development in organisms or organizational structures.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, often influencing behavior, thoughts, and feelings.