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E3-1 Inferring Statement of Earnings Values LO3-2 Supply the missing dollar amounts for the 2020 statement of earnings of Ultimate Style Company for each
E3-1 Inferring Statement of Earnings Values LO3-2 Supply the missing dollar amounts for the 2020 statement of earnings of Ultimate Style Company for each of the following independent cases: Case A Case B Case C Case D Case E Sales revenue $ 940 $ 740 $ 450 Selling expense 156 86 406 256 Cost of sales 400 510 330 Income tax expense 40 26 50 32 Gross profit 430 460 Earnings before income tax 214 102 204 Administrative expense 160 66 110 90 Net earnings 178 52 82
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