Budget

Sheet1

SAMPLE INC.
Budgeted Income Statement
For the Years Ended December 31, xxx2
		Budget	Actual
		xxx2	xxx1
Net sales			10,456,000
Cost of goods sold			4,182,400
Gross profit			6,273,600
Research and Development Expenses			378,965
General and Administrative Expenses			875,632
Marketing Expenses			155,678
Total operating expenses			1,410,275
Income from operations			4,863,325
Income tax expense			1,361,731
Net income			3,501,594
Expectations:
Sales are expected to increase 4.5% next year
Cost of good sold will continue to remain at the same level as last year
Research and Development Expenses are expected to increase by 20%
General and Administrative Expenses are expected to decrease by 12%
Marketing Expenses are expected to increase at the same rate as sales
Income taxes are expected to remain at the same rate as last year
Analysis:

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SAMPLE INC.

Budgeted Income Statement

For the Years Ended December 31, xxx2

Net sales

Cost of goods sold