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[The following Information applies to the questions displayed below. The following data were provided by Mystery Incorporated for the year ended December 31: Cost of
[The following Information applies to the questions displayed below. The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold $165,000 Income Tax Expense 17,600 Merchandise Sales (gross revenue) for Cash 240,000 Merchandise Sales (gross revenue) on Credit 42,000 Office Expenses 19,000 Sales Returns and Allowances 7,000 Salaries and Wages Expense 40,200 Required: 1. Prepare a multistep income statement
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