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Prepare a multiple-step income statement for the year

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Reference no: EM132083460

The following information is available for Quayle Company:

Sales revenue $618,000
Sales returns and allowances 20,000
Cost of goods sold 398,000
Operating expenses
 114,000
Interest expense 19,000
Interest revenue 20,000

(a) Use the above information to prepare a multiple-step income statement for the year ended December 31, 2014

 

Reference no: EM132083460

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