Third question: Use the following information to prepare the income statement, total sales 325, sales returns and
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Third question: Use the following information to prepare the income statement, total sales 325, sales returns and allowances 25, debit interest 100, total purchases 200, purchase returns and allowances 40, beginning goods 70, ending goods 30 tax rate 30%, depreciation premium 10, selling expenses 30 general and administrative expenses 18
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