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Sales Allowances Fitz - Chivalry Corporation reports the following information on its 2 0 1 9 income statement. Required income statement? Assume the company's combined
Sales Allowances
FitzChivalry Corporation reports the following information on its income statement.
Required
income statement? Assume the company's combined federal and state tax rate is
Hint: For adjustments to the income statement, we assume the normal for the ratio of Allowance for sales returns to Gross sales for each year.
Determine the adjusted allowance for sales return. Round answer to nearest whole number.
$ millions
Adjusted total allowance for sales returns
Using the adjusted total allowance for sales returns computed above, determine the adjustments for the following income statement items.
Notes:
Round answers to nearest whole number.
Use negative signs with answers to indicate the adjustment decreases an account.
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