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The following information is available from the accounting records of DeWitt Engineering Ltd. for the year ended June 30, 2021:
Fee discounts and allowances $ 26,000
Fee revenue 1,560,000
Interest revenue 6,000
Other operating expenses 590,000
Salaries expense 750,000
Instructions
Question 1: Prepare a corporate income statement for the year ended June 30, 2021. The company has a 30% income tax rate.
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