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. .--. 1 Heading 5 Heading 611 Normal!! No Spac.. I Heading 1 Heading 2 Heading 7 Paragraph Styles Part 3: Calculate the five critical

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. .--. 1 Heading 5 Heading 611 Normal!! No Spac.. I Heading 1 Heading 2 Heading 7 Paragraph Styles Part 3: Calculate the five critical subtotals in the multistep income statement based on the information provided in this table: Sales Sales returns Sales discounts costof Goods Sold Total Operating Expenses Interest Income Interest Expense Income Tax Expense 1,150,000 10,000 5,000 410,000 300,000 6,000 2,000 12,000 Amount: a. Net Sales b. Gross Profit c. Income From Operations d. Income Before Taxes e. Net Income Fill in the blanks. 1) FIFO COGS is 2) FIFO ending inventory is (greater or less than) LIFO COGS (greater or less than) LIFO ending Des

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