Ciank, LLC is a sinail compainy that sells decorative picture frames from local artisans. John,...
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Ciank, LLC is a sinail compainy that sells decorative picture frames from local artisans. John, the chief financiai officer (CFO), is in the process of compiling a Budgeted income Statement for 2024 so that the company can apply for a loan at the local bank. John has budgeted for sales of 6,900 mugs at a sales price of $17,00 per mug. The company originally paid $5.00 per mug when it acquired them. The company has selling-general \& admin (SG\&A) expenses of \$48.200 and an existing loan of $7.700 with an annual percentage rate (APR) of 3.0%. The tax rate is a flat 21%. What is the amount of net income that the company will report on the budgeted income statement for 2024? (Round answers to 0 decimal ploces, es. 1.525.) Net Income
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