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Concord Corporation had net sales of $2,429,400 and interest revenue of $34,300 during 2020. Expenses for 2020 were cost of goods sold $1.454,500, administrative expenses
Concord Corporation had net sales of $2,429,400 and interest revenue of $34,300 during 2020. Expenses for 2020 were cost of goods sold $1.454,500, administrative expenses $214.500, selling expenses $299,000, and interest expense $48,800. Concord's tax rate is 30%. The corporation had 109,600 shares of common stock authorized and 70,840 shares issued and outstanding during 2020 Prepare a condensed multiple-step income statement for Concord CorporItion (Round earnings per share to 2 decimal places, eg. 1.48.) CONCORD CORPORATION Income Statement For the Year Ended December 31, 2020 Net Sales Cost of Goods Sold Gross Profit/(Low Administrative Expenses Selling Experies Selling Expenses S
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