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Prepare a multiple-step income statement for the year ended

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Question - Save-the-Earth Company reports the following income statement accounts for the year ended December 31.

Sales discounts $850

Office salaries expense 3,000

Rent expense-Office space 2,500

Advertising expense 700

Sales returns and allowances 350

Office supplies expense 700

Cost of goods sold 11,000

Sales 40,000

Insurance expense 2,000

Sales staff salaries 3,500

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

Reference no: EM133087387

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