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Determine and show a combined single-step income statement

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Jackson Company had the following income statement amounts for the year ended December 31, 2007:

Sales $4,624,274                                Cash dividends declared $ 58,986

Income tax expense 405,107                 Interest income 23,088

S,G &A expense 684,175                      Cost of sales 2,958,708

Other expense 6,317                            Retained earnings, 12/31/07 3,074,037

Royalty income 279,459                         Royalty expense 111,586

Question 1: Show a combined single-step income statement and retained earnings for the year ended December 31, 2007.

Reference no: EM132488989

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