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Prepare the first part of the multi-step income statement

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Question - Given the following information; prepare the first part of the Multi-Step Income Statement (HINT: through Gross Profit)

Selling Expense 10,000

Inventory 30,000

Furniture 50,000

Cash 60,000

Sales Returns and Allowances 3,000

Cost of Goods Sold 50,000

General Expense 20,000

Sales Revenue 94,000

Capital 30,000

Accounts Payable 15,000

Salary Payable 27,000

Sales Discount 1,000

Reference no: EM132425748

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