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Compute the missing amounts

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Question - Taylor Company has the following account balances, extracted from its multiple-step income statement for the current year.

Required: Compute the missing amounts.

Sales $118,200

Sales Returns and Allowances 3,200

Sales Discounts 3,500

Net Sales ?

Cost of Goods Sold ?

Gross Profit 59,200

Selling Expenses 8,300

General and Administrative Expenses 10,800

Total Operating Expenses ?

Net Income ?

Reference no: EM131649966

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