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Barrieland Merchandising Firm Is Developing Its Budgets for 2016

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Barrieland Merchandising Firm is developing its budgets for 2016.The 2015 income statement is as follows:
Barrieland Merchandising Firm is developing its budgets for 2016.The 2015 income statement is as follows: Selling prices will increase by 10 percent and sales volume in units will decrease by 5 percent.The cost of goods sold as a percent of sales will increase to 62 percent.Other than amortization,all operating costs are variable. Required: Prepare a budgeted income statement for 2016.
Selling prices will increase by 10 percent and sales volume in units will decrease by 5 percent.The cost of goods sold as a percent of sales will increase to 62 percent.Other than amortization,all operating costs are variable.
Required:
Prepare a budgeted income statement for 2016.

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