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Q . No: 2 You are the chief accountant for electro products incorporation. Your assistant has prepared an income statement for the current year and
Q No: You are the chief accountant for electro products incorporation. Your assistant has prepared an income statement for the current year and has developed the following additional information by analyzing changes in the company's balance sheet accounts:
Changes in the company's balance sheet accounts over the year are summarized as follows:
tabletableElectro Products IncorporationIncome statementFor the year ended December Revenue:$Net sales,,Interest income,,tableGain on sales of marketablesecuritiesTotal revenue and gains,,$Cost and Expenses :Cost of goods sold,$tableOperating expenses includingdepreciation of
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