Fill in the blanks to complete the sentence. A company has the following budget information: Sales: $118,800; COGS: $48,500; Depreciation expense: $1,500; Interest expense: $250; Other expenses: $41,880. If the company budgets 40% for income tax expense, the budgeted net income will be $

16,002

Explanation:

A company has the following budget information

Sales = $118,000

COGS= $48,500

Depreciation expense= $1,500

Interest expense= $250

Other expense= $41,880

The company budgets 40% for income tax expense

= 40/100

= 0.4

The first step is to calculate the total expense incurred in the company

Total expense= COGS+depreciation expense+Interest expense+Other expenses

= $48,500+$1,500+$250+$41,880

= $92,130

The next step is to calculate the pre-tax income

Pre-tax income= Sales-total expenses

= $118,800-$92,130

= $26,670

The next step is to calculate the income tax expense

Income tax expense= $26,670×0.4

= $10,668

Therefore, the budgeted net income can be calculated as follows

Budgeted net income= Pre-tax income-income tax expense

= 26,670-10,668

= 16,002

Hence the budgeted net income is 16,002

balanced lifestyle would be the type of lifestyle that fulfill all aspects of our life, including financial security, personal achievements, emotional balance, and intimate relationships with other people.

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answer; i believe the correct answer is (a) purchase of treasury stock;