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Required Calculate the missing amounts on the statement of income. AP4-9B (Statement of income presentation) You have been provided with the following account balances
Required Calculate the missing amounts on the statement of income. AP4-9B (Statement of income presentation) You have been provided with the following account balances for Broiler Ltd. for the years ended September 30, 2024, and 2025 Required Advertising expense Cost of goods sold General and administrative expenses Income tax expense Interest revenue Rent expense Sales revenue Utilities expense Wages expense 2025 $220,000 2024 $300,000 1,546,000 1,366,000 222,000 155,000 500,000 75.000 3.200 4,000 15,000 12,000 3.750,400 2,450,000 90,000 66,000 403,000 a. Prepare a multi-step comparative statement of income for Broiler Ltd. for 2024 and 2025. b. Determine Broiler's gross margin percentage for each year. In which year was Broiler more successful in this area? c. Did the year with the superior gross margin percentage also have the largest net income? Explain why or why not. 376,000
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