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Shown below is an income statement for 2015 that was prepared by a poorly trained bookkeepe of Howell Corporation. ??? 2,500 Howell Corporation INCOME STATEMENT
Shown below is an income statement for 2015 that was prepared by a poorly trained bookkeepe of Howell Corporation. ??? 2,500 Howell Corporation INCOME STATEMENT 31-Dec-15 Sales revenue 150% from cost of goods sold sales discount sales returns and allowances net sales Interest revenue beginning inventory purchases ending inventory 6,200 ??? 22,500 600,000 Cost of goods sold ??? 356,500 80% beginning inventory 145,000 215,000 18,000 Selling expenses Administrative expense Interest expense Net income ??? Instructions Prepare an multiple steps income statement for 2015 for Howell Corporation in good form
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