The accounting records for ADR, Inc., reflected the following amounts at the end of August 2010:

Prepare ADR’s multi-step income statement for the fiscal year ended August 31,2010.

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Cash...... $3,500 Cost of Goods Sold $19,500 Total Operating Expense 3,700 Equipment, Net. 6,100 Accounts Payable........ 4,500 Accrued Liabilities. 1,900 Total Stockholders' Equity 5,200 Net Sales Revenue. 28,000 Long-Term Notes Payable... 2,300 Accounts Receivable. 2,900 Inventory......... 1,700 Prepaid Rent. 800 Wages Payable... 1,100