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E5-2, Cost of Goods Sold and Income Statement. Not handwritten or pics please, in Word. Cost of Goods Sold and Income Statement Schuch Company presents
E5-2, Cost of Goods Sold and Income Statement. Not handwritten or pics please, in Word.
Cost of Goods Sold and Income Statement Schuch Company presents you with the following account balances taken from its December 31 adjusted trial balance: Additional dara: 1. A physical count reveals an ending-inventory of $22,500 on December 31 . 2. Twenty-five thotsand shares of common stock have been outstanding the entire year. 3. The income tax rate is 30% on all items of income. Required: 1. As a supporting document for Requirements 2 and 3 , prepare a scparate schedule for Schuch's cost of goods sold, 2. Prepare a multiple-step income statement. 3. Prepare a single-step income statementStep by Step Solution
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