Using Goal Seek/Solver and/or What-If Scenarios based on the below income statement, calculate the followinga) the sales amount in order to realize $1,200,000 of net income without changing any of the expense accounts.b) to realize $1,200,000 without changing revenues and cost of goods sold.c) What could be the best scenario to achieve NI $1,200,000. 123 +34567891011121314151617181920212223452425ARevenueExpensesBсIncome StatementSalesSales ReturnsSales DiscountsNet SalesPuchasesPurchase ReturnsPurchase DiscountsCost of Goods SoldWage and Salary ExpRent ExpenseUtilities ExpenseOffice Supplies ExperPayroll Tax ExpenseDepreciationBad Debt ExpenseInterest ExpenseProvision for incomeTotal ExpensesNet IncomeD-6174020.00320280.0059910.000.000.000.004205114.0070878.00122650.0072820.0035800.0027135.2511750.0057938.305000.00236928.89E-5793830.004846014.44-947815.56

Presently net income is $947,815.56. You should know that in order to achieve a net income of…

Using Goal Seek/Solver and/or What-If Scenarios based on the below income statement, calculate the following a) the sales amount in order to realize $1,200,000 of net income without changing any of the expense accounts. b) to realize $1,200,000 without changing revenues and cost of goods sold. c) What could be the best scenario to achieve NI $1,200,000.

Using Goal Seek/Solver and/or What-If Scenarios based on the below income statement, calculate the following a) the sales amount in order to realize $1,200,000 of net income without changing any of the expense accounts. b) to realize $1,200,000 without changing revenues and cost of goods sold. c) What could be the best scenario to achieve NI $1,200,000.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter11A: The Net-price Method Of Recording Purchases

Section: Chapter Questions

Problem 3RQ

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