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On March 31, 2045, the balances of the accounts appearing in the ledger of Vibe Tribe Inc. are as follows: Administrative Expenses $ 186,200 $
On March 31, 2045, the balances of the accounts appearing in the ledger of Vibe Tribe Inc. are as follows: Administrative Expenses $ 186,200 $ 178,900 Inventory 146,880 Notes Payable Accumulated Dep. - Building 42,100 Building 734,400 Office Supplies 15,100 Common Stock 150,000 Retained Earnings 665,300 Cash 69,700 Sales 1,831,400 Cost of Goods Sold 1,003,200 Selling Expenses 293,700 Dividends 35,700 Store Supplies 11,200 Interest Expense 10,800 a. Prepare a multiple-step income statement for the year ended March 31, 20Y5. Enter account decreases and cash outflows as negative amounts. Vibe Tribe Inc. Income Statement For the Year Ended March 31, 2015 $ $ Operating Expenses: Total operating expenses Other expense: $ b. Disadvantages of a single-step form of income statement includes all of the following except
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