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Prepare a multiple-step income statement for Armour Co. from the following data for the year ended December 31, 2014. Sales, $790,000; cost of merchandise sold,

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Prepare a multiple-step income statement for Armour Co. from the following data for the year ended December 31, 2014. Sales, $790,000; cost of merchandise sold, $330,000; administrative expenses, $35,000; interest expense, $20,000, rent revenue, $25,000; sales returns and allowances, $35,000; selling expenses, $50,000

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