### Prepare a single-step income statement

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##### Reference no: EM13510555

Summary operating data for Paper Plus Company during the current year ended June 30, 2010, are as follows: cost of merchandise sold, \$4,000,000; administrative expenses, \$500,000; interest expense, \$30,000; rent revenue, \$100,000; net sales, \$6,500,000; and selling expenses, \$750,000. Prepare a single-step income statement.

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