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Instructions: Prepare Reed & Sons 2 0 1 7 Income Statement using numbers from the transaction spreadsheet. Place the income statement accounts in the appropriate
Instructions:
Prepare Reed & Sons Income Statement using numbers from the transaction spreadsheet.
Place the income statement accounts in the appropriate section of the income statement and calculate Gross Profit, Operating Profit, Income Before Tax, and Net Income I
Use positive numbers for revenues and negative numbers for expenses, the same format used in the transaction spreadsheet.
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