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Question 1: 6 Marks) ABC company has the following revenues and expenses for the year ended 31/12/2018 Sales revenue SR 420,000, Interest revenue SR 28,000,

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Question 1: 6 Marks) ABC company has the following revenues and expenses for the year ended 31/12/2018 Sales revenue SR 420,000, Interest revenue SR 28,000, Loss from disposal of fixed assets SR 16,000, Sales returns and allowances SR 20,000, Interest Expense SR 8,000, General and Administration expenses SR 35,00, sales unt SR 10,000 Cost of goods sold (COGs) SR 90,000, elling and distribution expenses SR 25,000 Instructions: Prepare multiple-step income statement for ABC Company for the year ended 31/12/2018

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