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Items from the accounts of Atwood Distributors at October 31. 2017. follow, listed in alphabetical order. Atwood Distributors uses the perpetual inventory system. For simplicity,
Items from the accounts of Atwood Distributors at October 31. 2017. follow, listed in alphabetical order. Atwood Distributors uses the perpetual inventory system. For simplicity, the operating expenses are summarized in the General Expenses and Selling Expenses accounts. Prepare Atwood Distributors' multi-step income statement for the year ended October 31, 2017 Corry Atwood, owner of the company, strives to earn a gross margin of at least 50 percent and a net income of 20 percent (Net income percentage - Net income/Net sales revenue). Did Atwood Distributers achieve these goals? Show your calculations
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