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Prepare a multiple-step income statement.

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Question - In its income statement for the year ended December 31, 2017, Lemere Company reported the following condensed data.

Operating expenses

$743,300

Interest revenue

$32,350

Cost of goods sold

$323,900

Loss on disposal of plant assets

18,260

Interest expense

72,410

Net sales

2,407,100

Required - Prepare a multiple-step income statement.

Reference no: EM131593113

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