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Accounts from the Perril Company's Income Statement, including some accounts and from the Perril Company's Balance Sheet, for the year ending December 31, 2021
Accounts from the Perril Company's Income Statement, including some accounts and from the Perril Company's Balance Sheet, for the year ending December 31, 2021 are listed below: Additional paid in capital $1,310 Beginning inventory = $620 Depreciation = $1,680 = Dividends paid - $1,930 Ending inventory $580 Gross sales $13,240 = Interest expense - $660 Notes payable $3,440 " I Operating expenses (excluding depreciation) $2,780 Purchases $6,870 Returns and allowances $160 Perril Company has a tax rate of 40 percent. Using the data above, compute what Perril Company (a retail clothing store) reported as Operating Profit (i.e., EBIT) on its 2021 income statement.
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