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Prepare a multi-step Income statement in correct form for the Charles Company using the following data: Income tax rate 30% Other Operating Expenses 25,000 Sales

Prepare a multi-step Income statement in correct form for the Charles Company using the following data:

Income tax rate

30%

Other Operating Expenses

25,000

Sales Revenues

500,000

Dividends paid

10,000

Cogs

350,000

Extraordinary gain net of taxes

20,000

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