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Prepare a multiple-step income statement. (List other revenues before other expenses.) In its income statement for the year ended December 31, 2014, Gavin Company reported
Prepare a multiple-step income statement. (List other revenues before other expenses.)
In its income statement for the year ended December 31, 2014, Gavin Company reported the following condensed data. Salaries and wages expenses $465,000 Loss on disposal of plant assets $ 83,500 Cost of goods sold 987,000 Sales revenue 2,210,000 Interest expense 71,000 Income tax expense 25,000 Interest revenue 65,000 Sales discounts 160,000 Depreciation expenses 310,000 Utilities expense 110,000.
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