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Based on the following information, what is the amount of McKee Company's income before income taxes, assuming the accrual method of accounting? Credit Sales
Based on the following information, what is the amount of McKee Company's income before income taxes, assuming the accrual method of accounting? Credit Sales totaled $320,000. Cash Sales totaled $414,000. Cash collected from customers for services not performed yet $93,000. Dividend Income $4,500. Cost of Goods Sold $336,000. Salaries Expense $50,000. Rent Expense $32,000. Other Operating Expenses $80,000. Interest Expense $21,000. Prepaid Rent $3,000. Gain on the sale of equipment $20,000. $236,000 $232,000 $332,500 $239,500
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