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Presented below is information for Splish Brothers Inc. for the month of January 2022.
Cost of goods sold $219,870
Rent expense $31,000
Freight-out 7,000
Sales discounts 7,000
Insurance expense 12,000
Sales returns and allowances 20,000
Salaries and wages expense 59,000
Sales revenue 376,000
Other comprehensive income 2,100
Problem 1: Prepare a multiple-step income statement.
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