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3 The income statement account balances on December 31, 2024, for ACC 162 Company appear below. In addition, ending merchandise inventory was $4,000. Net Sales

3 The income statement account balances on December 31, 2024, for ACC 162 Company appear below. In addition, ending merchandise inventory was $4,000. Net Sales Cost of Merchandise Sold: Selling Expenses I $120,000 70,000 5,000 General & Administrative Expenses 8,000 Interest Expense Dividend Income 2,000 6,000

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