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Marcellus Wallace Industries, Inc. (MWII) had the following partial trial balance for the year ended December 2019. Based on this information, prepare a multi-step income

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Marcellus Wallace Industries, Inc. ("MWII) had the following partial trial balance for the year ended December 2019. Based on this information, prepare a multi-step income statement for the year ended December 31, 2019 for MWII. Assume that MWII has an income tax rate of 30% (income tax expense is not reflected in the below). Amounts in 000's. Account Debit Credit Cost of Goods Sold 500 Sales Discounts 10 Sales 1,100 Sales Returns 20 Sales Allowances 15 Selling Expenses 100 General & 125 Administrative Expenses

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