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Sellall Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Administrative Expenses, $3,300; Cost of Goods
Sellall Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Administrative Expenses, $3,300; Cost of Goods Sold, $27,540; Income Tax Expense, $3,530; Interest Expense, $1,700; Interest Revenue, $220; General Expenses, $3,500; Net Sales Revenue, $46,155; and Delivery (freight-out) Expense, $390.
Prepare a multistep income statement for distribution to external financial statement users.
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