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Question - Tamarisk Corporation had net sales of $2,407,700 and interest revenue of $40,700 during 2020. Expenses for 2020 were cost of goods sold $1,462,900, administrative expenses $220,600, selling expenses $299,400, and interest expense $54,000. Tamarisk's tax rate is 30%. The corporation had 105,200 shares of common stock authorized and 74,260 shares issued and outstanding during 2020. Prepare a single-step income statement for the year ended December 31, 2020.
Financial Statement Analysis and Preparation
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Computation of Free Cash Flow
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