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Required: a . Prepare a multistep income statement. Include all operating expenses in one line item called Selling, General and Administrative Expenses and all non

Required:
a. Prepare a multistep income statement. Include all operating expenses in one
line item called "Selling, General and Administrative Expenses" and all non-
operating revenues(expenses) in one line item called "Other Revenue
(Expenses), net".
b. Compute the gross profit percentage.
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