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Preparing a Single-Step and Multi-Step Income Statement for Highview Corporation. Question is in screenshots and provides all relevant information. This is urgent!! Thx! Question 2

Preparing a Single-Step and Multi-Step Income Statement for Highview Corporation. Question is in screenshots and provides all relevant information. This is urgent!! Thx!image text in transcribedimage text in transcribedimage text in transcribed

Question 2 The following selected accounts from Highview Electronics Corporation's general ledger are presented below for the year ended December 31, 2018: Accounts receivable $283,000 clateddciation-equipment 726000 60,000 235,000 1,064,000 126,000 137,000 1,499,000 26,000 67,000 21,000 61,000 28,000 89,000 30,000 24,000 506,000 665,000 2,686,000 20,000 37,000 17,000 Common shares Cost of goods sold Depreciation expense Dividends declared Equipment Freight out Income tax expense Insurance expense Interest expense Interest revenue Inventory Prepaid expenses Rent revenue Retained eamings Salaries expense Sales Sales discounts Sales returns and allowances Uneamed revenue Prepare a single-step income statement

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