Prepare an income statement for the shop

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Reference no: EM132234879

The owner of a bicycle repair shop forecasts revenues of $228,000 a year. Variable costs will be $67,000, and rental costs for the shop are $47,000 a year. Depreciation on the repair tools will be $27,000. Prepare an income statement for the shop based on these estimates. The tax rate is 30%.

Reference no: EM132234879

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