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Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment Office supplies expense Insurance expense Sales
Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment Office supplies expense Insurance expense Sales Office salaries expense Rent expense-Selling space Sales staff wages $ 6,250 Depreciation expense-Office copier $ 500 700 Sales discounts 16,000 1,300 Sales returns and allowances 4,000 220,000 TV advertising expense 2,000 32,500 Interest revenue 750 10,000 Cost of goods sold 90,000 23,000 Sales commission expense 13,000 Prepare a multiple-step income statement. FIT-FOR-LIFE FOODS Income Statement For Year Ended December 31 0 0 0 Expenses Prepare a multiple-step income statement. FIT-FOR-LIFE FOODS Income Statement For Year Ended December 31 0 0 0 Expenses Selling expenses 0 Total selling expenses General and administrative expenses Total selling expenses General and administrative expenses 0 Total general and administrative expenses Total expenses 0 0 0 Other revenues, gains, expenses & losses Total other revenues, gains, expenses & losses 0
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