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Zoom Photographic Supplies, Inc., accounting records include the following for 2012: 1) Income tax saving-extraordinary loss $4,400. 2) Income tax saving- loss on discount discontinued
Zoom Photographic Supplies, Inc., accounting records include the following for 2012: 1) Income tax saving-extraordinary loss $4,400. 2) Income tax saving- loss on discount discontinued operations 16,000. 3) Extraordinary loss 11,000. 4) Sales revenue $430,000. 5) Operating expenses (including income taxes) 120,000. 6) Cost of goods sold 220,000.7) Loss on discounted operations 40,000. REQUIREMENTS: Prepare Zoom's multi-step income statement for 2012. Omit earnings per share
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