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Compute the missing amounts

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

Required: Compute the missing amounts.

Sales $105,100

Sales Returns and Allowances?

Sales Discounts 4,700

Net Sales ?

Cost of Goods Sold 61,100

Gross Profit 36,800

Selling Expenses ?

General and Administrative Expenses 8,700

Total Operating Expenses 20,600

Net Income ?

Reference no: EM131650013

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