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its the same answer choices for the 7 statements. Ashanti Inc manufactures and sells glass vases, bowls and other decorative pieces as home furnishings. During
its the same answer choices for the 7 statements. Ashanti Inc manufactures and sells glass vases, bowls and other decorative pieces as home furnishings. During the month, the company sold 200 vases for $30 each and 100 bowls for $20 each. Each vase and bowl costs $13 to produce. The company incurred $2,000 in selling and administrative expenses for the month. In addition, Ashanti Inc. sold one of its glass blowing machines that cost $3,900 for $5,800. Income tax is 20% on income before taxes. Complete the income statement below. Choose. $7.900 Sales $3,200 $4,000 Cost of good sold $8,000 $800 Gross profit $3,900 $6,000 Operating income $2,100 $13,800 Gain on sale of glass blowing machine $9,900 Income tax expense $1,900 $4.100 Net income Choose
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