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Last Year,a Firm Had Net Income of $62,000 on Sales

Question 62

Multiple Choice

Last year,a firm had net income of $62,000 on sales of $595,000.The projected sales for next year are $654,500.Assume the firm uses the percentage of sales method for pro forma statements.What is the projected net income?


A) $59,500
B) $65,500
C) $68,200
D) $71,500
E) $71,900

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