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Prepare a multiple-step income statement for the year

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Reference no: EM133179702

Question - Cespedes Company gathered the following condensed data for the year ended December 31, 2021:

Cost of goods sold $750,000

Sales 1,400,000

Depreciation expense 23,000

Sales Returns and Allowances 14,000

Interest expense 18,000

Interest revenue 20,000

Rent expense 45,000

Utilities Expense 10,000

Bad Debt Expense 2,000

Required - Prepare a multiple-step income statement for the year ended December 31, 2021.

Reference no: EM133179702

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