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Now prepare an income statement. Turner Company Income Statement Year Ended December 31, 2016 (in millions) Sales Revenue Cost of Goods Sold: Beginning Finished Goods

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Now prepare an income statement. Turner Company Income Statement Year Ended December 31, 2016 (in millions) Sales Revenue Cost of Goods Sold: Beginning Finished Goods Inventory Cost of Goods Manufactured Cost of Goods Available for Sale Ending Finished Goods Inventory Cost of Goods Sold Gross Profit Selling and Administrative Expenses Net Income (Loss)

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