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Question: Income Statement (with cost of goods sold adjustment). Required: Prepare an income statement for year ended December 31.
Rambler Company had the following activity for the year ended December 31:
Sales revenue $2,050,000Selling expenses $ 575,000General and administrative expenses $ 330,000Cost of goods sold (before adjustment) $ 700,000Under-applied overhead $ 23,000
In-text citation and references should be included if any is use in this paper.
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