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Sibrel Inc., a manufacturing company, has provided the following financial data for September:
Sales$590,000
The company had no beginning or ending inventories.
Required:
a) Prepare an income statement in good form for September using the traditional approach.
b) Prepare an income statement in good form for September using the contribution approach.
The following product line information is for the Swiss Watch Company. The company is considering dropping its Children's product line due to poor operating income performance. Fixed expenses are allocated to each product line based on sales reven..
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