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BYP5-7 Group Decision Case - Fedco Department Store

Kathy Webb and FedCo Department Store... problem is in the attachment,
Please see the problem 225/BYP5-7 in the attachment.
Please kindly help me.

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Please see the attached file

(a) (1) FEDCO DEPARTMENT STORE
Projected Income Statement
For the Year Ended December 31, 2002

Net sales [$700,000 + ($700,000 × 6%)] $742,000
Cost of goods sold ($742,000 × 75%) 556,500
Gross profit ($742,000 × 25%) 185,500
Operating expenses
Selling expenses $100,000
Administrative expenses 25,000
Total operating ...

Solution Summary

The solution explains how to prepare the revised income statement incorporating Kathy's changes and John's ideas.

$2.19