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Prepare sleek and shiny income statement for the year

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Reference no: EM133139701

Question - Sleek and Shiny is a retail chain specializing in? salon-quality hair care products. During the? year, Sleek and Shiny had sales of $38,230,000.

The company began the year with $2,985,000 of merchandise inventory and ended the year with $3,785,000 of inventory. During the? year, Sleek and Shiny purchased $23,520,000 of merchandise inventory. The? company's selling,? general, and administrative expenses totalled $6,120,000 for the year. Prepare Sleek and Shiny's income statement for the year.

Reference no: EM133139701

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