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Question - The following items were derived from Gold company's: December 31 adjusted trial balance
Cost of goods sold: $101,000
Loss from strike (pretax) $9,000
Sales: 195,000
General and administrative expenses: 20,000 Selling expenses: 28,000
Interest revenue: 4,000
Additional data:
1. Seven thousand shares of common stock have been outstanding the entire year.
2. The income tax rate is 30% on all items of income.
Required - Prepare a single step income statement?
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