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Brief Exercise 14-07 The following information is available for Lily Corporation for the year ended December 31, 2020: cost of goods sold $219,000, sales revenue

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Brief Exercise 14-07 The following information is available for Lily Corporation for the year ended December 31, 2020: cost of goods sold $219,000, sales revenue $455,000, other revenues and gains 547,500, and operating expenses $79,000 Assuming a corporate tax rate of 30%, prepare an income statement for the company LILY CORPORATION Income Statement . + Wrion24211 TWT

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