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Larkspur Corporation had sales of $3,360,000 for the year ended December 31, 2022. The unit selling price was $16. In making the sales, the
Larkspur Corporation had sales of $3,360,000 for the year ended December 31, 2022. The unit selling price was $16. In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $651,000 $780,000 Selling expenses 118,000 56,000 Administrative expenses 239,000 79,000 (a) Prepare a GAAP income statement. LARKSPUR CORPORATION GAAP Income Statement
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