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M6-13 Preparing a Multistep Income Statement [LO 6-6] Sellall Department Stores reported the following amounts in its adjusted trial balance prepared as of its
M6-13 Preparing a Multistep Income Statement [LO 6-6] Sellall Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Administrative Expenses, $2,000; Cost of Goods Sold, $20,520; Income Tax Expense, $2,870; Interest Expense, $1,500; Interest Revenue, $180; General Expenses, $2,200; Net Sales Revenue, $34,390; and Delivery (freight-out) Expense, $260. Prepare a multistep income statement for distribution to external financial statement users. Answer is not complete. SELLALL DEPARTMENT STORES Income Statement For the Year Ended December 31 Net Sales Cost of Goods Sold Gross Profit Operating Expenses Amortization Expense Delivery Expense
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