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Departmental Income Statement
The following information was obtained from the ledger of Woodfield Candies, Inc., at the end of 2016
Woodfield analyzes its operating expenses at the end of each period in order to prepare an income statement that will exhibit departmental contribution to common expenses. From payroll records, advertising copy, and other records, the following tabulation was obtained:
Prepare a departmental income statement for Woodfield Candies, Inc., showing departmental contribution to common expenses, assuming an overall income tax rate of 35%.
Do not use negative signs with your answers below.
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