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E5.11 (LO 4), AP In its income statement for the year ended December 31, 2022, Laine Inc. reported the following condensed data. Prepare an income
E5.11 (LO 4), AP In its income statement for the year ended December 31, 2022, Laine Inc. reported the following condensed data. Prepare an income statement and comprehensive income statement. $ 33,000 17,000 Operating expenses $ 725,000 Cost of goods sold 1,256,000 Interest expense 70,000 Income tax expense 47,000 Instructions a. Prepare a multiple-step income statement. b. Prepare a comprehensive income statement. Interest revenue Loss on disposal of plant assets Net sales Other comprehensive income (net of $1,200 tax) 2,200,000 8,300
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