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1) Prepare an income statement from the following information. Sales: $800,000 Cost of Goods Sold: $300,000 Administrative expenses: $50,000 Depreciation expenses: $10,000 Interest expense: $15,000

1) Prepare an income statement from the following information.

Sales: $800,000

Cost of Goods Sold: $300,000

Administrative expenses: $50,000

Depreciation expenses: $10,000

Interest expense: $15,000

Tax rate: 20%

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