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Below are amounts found in the income statements of three companies. Cost of Goods Operating Company Henry Net Sales Sold Expenses Nonoperating Expenses Income Tax
Below are amounts found in the income statements of three companies. Cost of Goods Operating Company Henry Net Sales Sold Expenses Nonoperating Expenses Income Tax Expense Grace James $30,000 33,000 38,000 $6,000 $4,900 $1,900 $1,900 23,760 13,000 6,900 0 24,320 2,900 0 2,900 Required: 1. For each company, calculate (a) gross profit, (b) operating income, (c) income before income taxes, and (d) net income
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