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8. Calculate the four critical subtotals in the multi-step income statement based on the information provided in this table: a. Net Sales Sales Sales returns
8. Calculate the four critical subtotals in the multi-step income statement based on the information provided in this table: a. Net Sales Sales Sales returns 790,000 5,000 Sales discounts 4,000 Cost of Goods Sold 235,000 Selling Expenses 250,000 Administrative Expenses 171,000 Interest Expense 5,000 Interest Revenue 4,000 Income Tax Expense 5,000 b. Gross Profit c. Income from Operations d. Net Income Amount
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