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Question 43 16 pts The adjusted trial balance of Tunnell Company included the following selected accounts: Debit Credit $575,000 Sales $50,000 Sales Returns and Allowances
Question 43 16 pts The adjusted trial balance of Tunnell Company included the following selected accounts: Debit Credit $575,000 Sales $50,000 Sales Returns and Allowances Sales Discounts Cost of Goods Sold Advertising Expense Income Tax Expense Interest Expense Store Salaries Expense Interest Income 9,500 347,000 15,000 10,000 19,000 74,000 25,000 Instructions: Use the above information to provide answers to the following questions related to the Multiple Step Income Statement for the year ended December 31, 2019. All answers should be whole numbers, no commas, dollar signs or parentheses. DO NOT ENTER WORDS. 1. What is the amount of Net Sales? 2. What is the amount of Gross Profit? 3. What is the amount of Total Operating Expenses? 4. What is the amount of Income From Operations? 5. What is the amount of Other Revenues and Gains? 6. What amount would be in Other Expenses and Losses? 7. What is the amount of Income Before Taxes? 8. What is Net Income for the company
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