Prepare combined single-step income statement

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Reference no: EM131203804

Jackson Company had the following income statement amounts for the year ended December 31, 2007:

Sales $4,624,274 Cash dividends declared $ 58,986

Income tax expense 405,107 Interest income 23,088

S,G &A expense 684,175 Cost of sales 2,958,708

Other expense 6,317 Retained earnings, 12/31/07 3,074,037

Royalty income 279,459 Royalty expense 111,586

Prepare a combined single-step income statement and retained earnings for the year ended December 31, 2007.

Reference no: EM131203804

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