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Q7. Nittany Inc. reported the following for the year ending Dec 31, 2019. Net sales, $1,250,000; Cost of Goods Sold $750,000; Operating Expenses $380,000 and

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Q7. Nittany Inc. reported the following for the year ending Dec 31, 2019. Net sales, $1,250,000; Cost of Goods Sold $750,000; Operating Expenses $380,000 and unrealized holding loss on nontrading equity $25,000. Prepare a comprehensive income statement using the two-statement format. (1/2 marks)

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