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Balance, Reporting an Income Statement, Statement of Retained Earnings, Balance Sheet, Recording Closing Entries [LO 4-2, LO 4-3, LO 4-4, LO 4-5] [The following information
Balance, Reporting an Income Statement, Statement of Retained Earnings, Balance Sheet, Recording Closing Entries [LO 4-2, LO 4-3, LO 4-4, LO 4-5] [The following information applies to the questions displayed below.] Mint Cleaning Incorporated prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. (Assume amounts are reported in thousands of dollars.) Other data not yet recorded at December 31 : a. Insurance expired during the year, $6. b. Depreciation expense for the year, $5. c. Salaries and wages payable, $8. d. Income tax expense, $10. 1 Required information Required: Using the adjusted balances, prepare an income statement for the year ended December 31. (Enter your answers in thousands, not in dollars (i.e., 10,000 should be entered as 10).)
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