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In its income statement for the year ended December 31, 2014, Gavin Company reported the following condensed data . Salaries and wages expense $465,000 Loss on disposal of plant assets $83,500 Cost of goods sold 987,000 Sales revenue 2,210,000 Interest expense 71,000 Income tax expense 25,000 Interest revenue 65,000 Sales discounts 160,000 Depreciation expense 310,000 Utilities expense 110,000.
Instructions:
Prepare a multiple-step income statement
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