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Below is the balance sheet for a store at the end of the first year, and transactions for the first quarter of the following year.

image text in transcribedimage text in transcribed Below is the balance sheet for a store at the end of the first year, and transactions for the first quarter of the following year. Balance Sheet (December 31, 20x0) Transactions (January 1 - March 31, 20x1) Show the income statement for the quarter. You will need to calculate tax at 30%. \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{SampleStoreIncomeStatementQuarterEndedMarch31,20x1} \\ \hline Revenue & $0 & : & & \\ \hline Cost of Goods Sold (5,000$12) & $0 & & & \\ \hline Gross Margin & & & $0 & \\ \hline Advertising/Promotion & $0 & . & & \\ \hline Payroll Expense & $0 & & & \\ \hline Other Expense & $0 & & & \\ \hline Total Expenses & & & $0 & \\ \hline Profit Before Taxes & & & $0 & \\ \hline Taxes (@ 30\%) & & & $0 & \\ \hline Profit After Taxes & & & $0 & \\ \hline \end{tabular}

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