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Complete an income statement for the following: Problem - VI Multiple-Step Income Statement (15 points) Below is a partial listing of the adjusted account balances
Complete an income statement for the following:
Problem - VI Multiple-Step Income Statement (15 points) Below is a partial listing of the adjusted account balances of Murray Department Store at year end on December 31, 2005. Accounts Receivable Cost of Goods Sold Selling Expenses (includes depreciation) Interest Expense Accumulated Depreciation-Building Sales Discounts Merchandise Inventory Administrative Expenses (includes depreciation) Sales Accounts Payable Interest Revenue $ 19,000 255,000 35,000 1,000 10,000 22,000 45,000 15,000 330,000 14,000 800 Instructions Using whatever data you believe appropriate, prepare a multiple-step income statement for Murray Department Store for the year ended December 31, 2005
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