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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, $2,100; 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, $2,100; Cost of Goods Sold, $21,060; Income Tax Expense, $2,930; Interest Expense, $1,500; Interest Revenue, $180; General Expenses, $2,300; Sales Revenue, $39,000; Sales Discounts, $1,950; Sales Returns and Allowances, $1,755; and Delivery (freight-out) Expense, $270.
Prepare a multistep income statement for distribution to external financial statement users. Help fill in the blank and the rest of the table |
SELLALL DEPARTMENT STORES
Income Statement | |
For the Year Ended December 31 | |
Cost of Goods Sold | 21,060 |
Gross Profit | |
Operating Expenses | 4,670 |
Income from Operations | |
Interest Revenue | 180 |
Income before Income Tax Expense | |
Net Income | $ |
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