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How do prepare an income statement for year ended december

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Reference no: EM132758586

Rambler Company had the following activity for the year ended December 31:

Sales revenue $2,050,000

Selling expenses $ 575,000

General and administrative expenses $ 330,000

Cost of goods sold (before adjustment) $ 700,000

Under-applied overhead $ 23,000

Problem 1: Income Statement (with cost of goods sold adjustment). prepare an income statement for year ended December 31.

Reference no: EM132758586

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