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Preparing a Multiple-Step Income Statement - The following data were taken from the records of Township Corporation at December 31, 2012:
Sales revenue
$79,000
Gross profit
28,000
Selling (distribution) expense
7,000
Administrative expense
?
Pretax income
13,000
Income tax rate
35%
Shares of stock outstanding
3,500
Required:
Prepare a complete multiple-step income statement for the company (showing both gross profit and income from operations). Show all computations. ( Hint: Set up the side captions or rows starting with sales revenue and ending with earnings per share; rely on the amounts and percentages given to infer missing values.)
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in 500nbsp words documents minimum respond to the questions below using apa format. it is important to respond clearly
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