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Your answer is partially correct. The following selected accounts from the Sunland Corporation's general ledger are presented below for the year ended December 31, 2025:
Your answer is partially correct. The following selected accounts from the Sunland Corporation's general ledger are presented below for the year ended December 31, 2025: Advertising expense Common stock Cost of goods sold Depreciation expense Dividends Freight-out Income tax expense Insurance expense Interest expense Sales $ 61,000 Sales Revenue 256,000 1,091,000 131,000 156,000 31,000 76,000 Interest revenue 75,000 Inventory Rent revenue Retained earnings Salaries and wages expense Sales discounts Sales returns and allowances 15,000 Sales revenue $ 38,000 73,000 24,000 541,000 680,000 9,200 49,000 Prepare a multiple-step income statement. (List Other revenue and gains before Other expenses and losses.) 2,405,000 SUNLAND CORPORATION Income Statement For the Year Ended December 31, 2025 $ 2405000
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