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Income Statement (with cost of goods sold adjustment). Statton Company had the following activity for the year ended December 31. Sales revenue = $4,000,000 Selling
Income Statement (with cost of goods sold adjustment). Statton Company had the following activity for the year ended December 31.
Sales revenue = $4,000,000
Selling expenses = $825,000
General and administrative expenses = $470,000
Cost of goods sold(before adjustment) = $1,900,000
Overapplied overhead = $109,000
Required: Prepare an income statement for year ended December 31.
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