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Required: Given the following information about Urban Corporation's current year activities and assuming a 25% tax rate on all items, complete a multi-step income statement

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Required: Given the following information about Urban Corporation's current year activities and assuming a 25% tax rate on all items, complete a multi-step income statement for the year ending December 31, 2021 excluding earnings per share disclosure. Debits Credits Interest revenue $36,000 Sales 875,000 Selling and administrative expenses $55,000 Depreciation expense 35,000 Accumulated depreciation 33,000 Equipment 200,000 Cost of goods sold 525,000 Operating loss from discontinued 78.000 operations Dividends paid to shareholders 45,000 Loss on retirement of bonds 7,500 30.000 Gain on restructuring

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