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Prepare an multiple-step income statement

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Reference no: EM132510670

Question - Presented below is information for Pharoah Company for the month of January 2022.

Cost of goods sold $287,000

Rent expense $31,000

Freight-out 7,400

Sales discounts 7,000

Insurance expense 12,600

Sales returns and allowances 12,000

Salaries and wages expense 48,000

Sales revenue 426,000

Required - Prepare an multiple-step income statement.

Reference no: EM132510670

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