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Discount Office Systems uses a perpetual inventory system. The adjusted trial balance of Discount Office Systems at March 31, 2018, follows: (Click the icon to
Discount Office Systems uses a perpetual inventory system. The adjusted trial balance of Discount Office Systems at March 31, 2018, follows: (Click the icon to view the adjusted trial balance.) Prepare Discount's multi-step income statement for the year ended March 31, 2018. (Use a minus sign or parentheses to show other expenses.) Discount Office Systems Income Statement Year Ended March 31, 2018 III Net Income (Loss) Discount Office Systems Adjusted Trial Balance March 31, 2018 Balance Account Title Debit Credit Cash 4,200 13,600 Accounts Receivable 32,100 6,500 42,100 Merchandise Inventory Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Notes Payable, long-term 13,800 8,900 700 8,200 Common Stock 15,000 Retained Earnings 4,850 Dividends 41,000 Sales Revenue 239,000 Cost of Goods Sold 107,550 Selling Expense 27,000 Administrative Expense 14,400 2,000 Interest Expense $ 290,450 $ 290,450 Total
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