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Buffalo Corporation had net sales of $2,401,300 and interest revenue of $36,200 during 2017. Expenses for 2017 were cost of goods sold $1,460,400, administrative expenses $214,900, selling expenses $287,300, and interest expense $50,800. Buffalo's tax rate is 30%. The corporation had 103,300 shares of common stock authorized and 73,710 shares issued and outstanding during 2017.
Question 1: What a condensed multiple-step income statement for Buffalo Corporation would look like.
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