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Emad Company Income Statement For the Year Ended December 31, 2020 (dollars in thousands) Sales (all on account) Cost of goods sold Gross margin
Emad Company Income Statement For the Year Ended December 31, 2020 (dollars in thousands) Sales (all on account) Cost of goods sold Gross margin Operating expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income $1,910 1,330 580 230 350 50 300 90 90 $ 210 The Company's days' sales in inventory for 2020 is (Year = 360 days):
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Core concepts of accounting information systems
Authors: Jacob M. Rose, Mark G. Simkin, Carolyn Strand Norman
13th edition
978-1-119-0332, 1118742931, 978-1118742938
