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The following is information from Crystal Company's adjusted trial balance at December 31, 2021: Debit Credit Cash $74,000 Notes receivable 101,000 Merchandise inventory 72,000 Equipment

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The following is information from Crystal Company's adjusted trial balance at December 31, 2021: Debit Credit Cash $74,000 Notes receivable 101,000 Merchandise inventory 72,000 Equipment 455,500 Accumulated depreciation-equipment $136,650 Unearned revenue 7,400 Notes payable 172,500 L. Crystal, capital 237,000 L.Crystal, drawings 148,000 Interest revenue 12,000 24,000 Rent revenue 1,980,000 Sales 56,000 Advertising expense 840,000 Cost of goods sold 45,550 Depreciation expense 27,000 Freight out 14,000 Insurance expense 10,000 Interest expense 660,000 Salaries expense 9,500 Sales discounts 57,000 Sales returns and allowances $2,569,550 $2,569,5 50 Prepare a single-step income statement for the year ended December 31, 2021. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) CRYSTAL COMPANY Income Statement Year Ended December 31, 2021 E

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