Gyro Company has the following totals from its operating budgets:
Selling and administrative expenses budget $244,500
Cost of goods sold budget 727,300
Sales budget 1,222,700
Prepare a budgeted income statement for the year ended December 31, 2011, assuming that income from operations is taxed at a rate of 30%.
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Home » Business » Preparing budgeted income statement. Gyro Company has the following totals from its operating budgets: Selling and administrative expenses budget $244,500 Cost of goods sold budget 727,300 Sales budget 1,222,700 Prepare a budgeted income statement