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Question 4. Here is a partial year-end adjusted trial balance for Venn Earthmoving Equipment Corp. from which you are to prepare a multiple-step income statement
Question 4. Here is a partial year-end adjusted trial balance for Venn Earthmoving Equipment Corp. from which you are to prepare a multiple-step income statement in good form: Account title Sales revenue Interest revenue Loss on sale of investments General and administrative expenses Cost of goods sold Restructuring costs Selling expenses Net proceeds from sale of robotics division Operating income from robotics division Income tax expense (rate is 25% on all items) Common stock ($5 per share) Amounts in millions Debit Credit $300,000 4,000 $ 23,000 42,000 165,000 50,000 25,000 123,000 60,000 ? 75,000 If you were thinking about investing in this company, what would you think & why
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