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Requirement 3. Prepare Navy Seals Surplus' income statement for October. Report gross profit. Operating expenses totaled $4,750. Navy Seals Surplus uses the average costing for

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Requirement 3. Prepare Navy Seals Surplus' income statement for October. Report gross profit. Operating expenses totaled $4,750. Navy Seals Surplus uses the average costing for inventory. The income tax rate is 32%. Round income tax expense to the nearest whole dolar

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