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Superior Company Income Statement Sales $ 1,056,000 Cost of goods sold 650,000 Gross margin F 406,000 Selling and administrative expenses: Selling expenses $ 216,000 Administrative

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Superior Company Income Statement Sales $ 1,056,000 Cost of goods sold 650,000 Gross margin F 406,000 Selling and administrative expenses: Selling expenses $ 216,000 Administrative expenses 155,000 371,000 F Net operating income $ 35,000

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