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Using the following accounts, prepare a multistep income statement for the year ended July 31, 2011:cost of goods sold, 1260; general expenses, 675; income taxes,

Using the following accounts, prepare a multistep income statement for the year ended July 31, 2011:cost of goods sold, 1260; general expenses, 675; income taxes, 158; interest expense, 315; interest income, 135; net sales, 3600; selling expenses, 833.

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