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    BYP5-7 Group Decision Case - Fedco Department Store

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    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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    Solution Preview

    Please see the attached file

    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.