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The Tamarisk, Inc. is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At
The Tamarisk, Inc. is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the company's fiscal year on November 30, 2022, the following accounts appeared in two of its trial balances. All accounts balances are normal. Unadjusted Adjusted Unadjusted Adjusted Accounts Payable $25,400 $25,400 Inventory $28,000 $28,000 Accounts Receivable 30,700 30,700 Notes payable 37,000 37,000 Accumulated Depr.-Equipment 34,000 44,500 Prepaid Insurance 10,400 3,000 Cash 26,500 26,500 Property Tax Expense 2,500 Common Stock 26,800 26,800. Property Taxes Payable 2,500 Cost of Goods Sold 515,000 515,000 Rent Expense 16,600 16,600 Dividends 10,000 10,000 Retained Earnings 61,700 61,700 Freight-Out 6,300 6,300 Salaries and Wages Expense 94,500 94,500 Equipment 145,500 145,500 Sales Commissions Expense. 6,500 11,000 Depreciation Expense 10,500 Sales Commissions Payable 4,500 Insurance Expense 7,400 Sales Returns and Allowances 7,900 7,900 Interest Expense 6,200 6,200 Sales Revenue 720,000 720,000 Interest Revenue 8,000 8,000 Utilities Expense 8,800 8,800 Prepare a multiple-step income statement. (List other revenues before other expenses. If there is a net loss then enter the am The Tamarisk, Inc. Income Statement For the Year Ended November 30, 2022 Sales Sales Revenue Less Sales Returns and Allowances Net Income/(Loss) eTextbook and Media : $
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