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Question - Presented below is information related to Watt Company during the year ended December 31, 2018.
Sales Revenue $ 1,400,000
Cost of Goods Sold 830,000
Selling and Administrative Expenses 240,000
Gain on Sale of Office Building 120,000
Interest Expense 100,000
Tax Rate 15%
Required: Prepare Watt Company's income statement (statement of profit & loss) for the year ended December 31, 2018, in a good format.
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