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Jasper Company provided the following information for last year: Last year, beginning and ending inventories of work in process and finished goods equaled zero. Required:
Jasper Company provided the following information for last year: Last year, beginning and ending inventories of work in process and finished goods equaled zero. Required: 1. Prepare an income statement for Jasper for last year. Calculate the percentage of sales for each line item on the income statement. Round percentages to the nearest tenth of a percent. 2. CONCEPTUAL CONNECTION: Briefly explain how a manager could use the income statement created for Requirement 1 to better control costs. income statement. Be sure to complete the statement heading. Round percentages to the nearest tenth of a percent
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