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KOM's multiple-step income statement reports Gross Profit of $729,879. Its general ledger also includes the accounts shown below (in alphabetical order). All accounts have normal
KOM's multiple-step income statement reports Gross Profit of $729,879. Its general ledger also includes the accounts shown below (in alphabetical order). All accounts have normal balances (debit or credit): Cost of goods sold $238,520 General and administrative expenses 37,788 Interest expense 4,975 Interest revenue 750 Sales returns and allowances 4,092 Selling expenses 44,179 KOM's multiple-step income statement will report the following amount for Income from Operations: Multiple Choice $647,912 $643,820 $409,392 $628,700 O $642.937 $642,937
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