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In January, Verba Corporation, a manufacturing company, reported the following financial data: The company had no beginning or ending inventories. Required: a. Prepare an income

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In January, Verba Corporation, a manufacturing company, reported the following financial data: The company had no beginning or ending inventories. Required: a. Prepare an income statement for January using the traditional approach. (14 marks) b. Prepare an income statement for January using the contribution approach. (16 marks)

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