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Question - The following accounts have been taken from Carlton Corporation's general ledger as of December 31, 2017. All data are shown before tax. The income tax rate is 40%.
Sales revenue $195,000
Interest revenue 10,000
Interest expense 8,000
Gain on sale of equipment 22,000
Cost of goods sold 85,000
Operating expenses 65,000
Operating income from discontinued operations 50,000
Loss on disposal of discontinued operations 30,000
Required - Provide a single-step income statement for the year ended December 31, 2017.
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