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Brief Exercise 14 07 The following information is available for Waterway Corporation for the year ended December 31, 2020: cost of goods sold $215,000, sales

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Brief Exercise 14 07 The following information is available for Waterway Corporation for the year ended December 31, 2020: cost of goods sold $215,000, sales revenue $471,000, other revenues and gains $47,000, and operating expenses $74,000. Assuming a cowperate tax rate of 2 prepare an income statement for the company. WATERWAY CORPORATION Income Statement

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