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Net sales P 400,000 Cost of goods sold (240,000) | P 160,000 Expenses: Selling 28,000 Administrative 24,000 Interest 18,000 (70,000) Net income before tax P

Net sales P 400,000 Cost of goods sold (240,000) | P 160,000 Expenses: Selling 28,000 Administrative 24,000 Interest 18,000 (70,000) Net income before tax P 90,000 Income tax (27,000) Net income P 63,...

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