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2. Calculate the five critical subtotals in the multistep income statement based on the information provided in this table: Sales 1,160,000 Sales returns 9,000 Sales
2. Calculate the five critical subtotals in the multistep income statement based on the information provided in this table: Sales 1,160,000 Sales returns 9,000 Sales discounts 14,000 Cost of Goods Sold 410,000 Total Operating 500,000 Expenses Interest Income 8,000 Interest Expense 15,000 Income Tax Expense 12,000 Amount: a. Net Sales b. Gross Profit c. Income From Operations d. Income Before Taxes e. Net Income
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