Using the following accounts and balances, prepare the income statement for Diamond Mines Ltd. for the year
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Selling and administrative expenses .......................... $1,555,000
Interest expense ................................................. 120,000
Accrued liabilities ............................................... 400,000
Gain on sale of land.............................................. 217,000
Cost of goods sold ............................................... 4,850,000
Net sales ........................................................... 7,500,000
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Related Book For
Accounting Volume 2
ISBN: 978-0176509743
2nd Canadian edition
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
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