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AB Ltd. presents the following selected accounts, all balances are after adjusting journal entries. All accounts have normal balances (accounts which are normally debits have
AB Ltd. presents the following selected accounts, all balances are after adjusting journal entries. All accounts have normal balances (accounts which are normally debits have debit balances here and visa-versa). Prepare a multi-step income statement. Required 1: AB's Net Sales for the period must have been: $ Required 2: AB's Cost of Goods Available for Sale for the period must have been: \$ Required 3: AB's Cost of Goods Sold for the period must have been: $ Required 4: AB's Gross Profit on Sales in dollars for the period must have been: $ Required 5: AB's total Operating Expenses (not including COGS) for the period must have been: $ Required 6: AB's Net Income (loss) in dollars for the period must have been: \$
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