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Given the following information about Sunny Day Corporation's current year activities and assuming a 30% tax rate on all items, complete a multi-step income statement
Given the following information about Sunny Day Corporation's current year activities and assuming a 30% tax rate on all items, complete a multi-step income statement for the year ending March 31, 2022 excluding earnings per share disclosure. Debit Credit Interest revenue $ 55,000 Sales 996,000 Selling and administrative expenses $ 104,000 Depreciation expense 35,000 Accumulated depreciation 46,000 Equipment 230,000 Cost of goods sold 425,000 Operating loss from discontinued operations 75,000 Dividends paid to shareholders 45,000 Loss on retirement of bonds 39,000
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