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please help [The following information applies to the questions displayed below.] Valley Company's adjusted account balances from its general ledger on August 31, its fiscal
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[The following information applies to the questions displayed below.] Valley Company's adjusted account balances from its general ledger on August 31, its fiscal yearend, follows. It categorizes the following accounts as selling expenses: sales salaries expense, rent expense-selling space, store supplies expense, and advertising expense. It categorizes the remaining expenses as general and administrative. Beginning merchandise inventory was $34,701. Supplementary records of merchandising activities for the year ended August 31 reveal the following itemized costs. Prepare a single-step income statement that includes these expense categories: cost of goods sold, selling expenses, and general and administrative expenses Step by Step Solution
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