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2. Prepare an income statement from the following information: sales, $500,000; cost of goods sold. $200.000; administrative expenses, $100,000: interest paid, $50,000. The tax rate

2. Prepare an income statement from the following information: sales, $500,000; cost of goods sold. $200.000; administrative expenses, $100,000: interest paid, $50,000. The tax rate is 34 percent

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