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(Solution) - Use the following information to prepare a multiple step income

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Use the following information to prepare a multiple-step income statement, including the revenue section and the cost of goods sold section, for Aeito?s Plumbing Supplies for the year ended December 31, 20--.
Sales ................ $166,000
Sales Returns and Allowances ........ 1,620
Sales Discounts ............. 3,320
Interest Revenue ............ 3,184
Merchandise Inventory, January 1, 20-- .... 33,200
Purchases ................. 111,300
Purchases Returns and Allowances ..... 3,600
Purchases Discounts ............. 2,226
Freight-In ................. 640
Merchandise Inventory, December 31, 20-- . 29,600
Wages Expense ............ 22,000
Supplies Expense .............. 650
Telephone Expense ........... 1,100
Utilities Expense ............ 9,000
Insurance Expense ............ 1,000
Depreciation Expense?Building ...... 4,600
Depreciation Expense?Equipment ..... 2,800
Miscellaneous Expense .......... 214
Interest Expense ............ 1,126

 







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