Question: These items were taken from the financial records of Brown s

These items were taken from the financial records of Brown's Used Cars:
Utilities expense ............ $ 17,650
Interest expense............. 50
Selling expense .............. 14,600
Administrative expense .......... 15,230
Interest revenue .............. 500
Cost of sales ............... 75,620
Net sales ................ 154,900
Required
Prepare a multi-step income statement assuming Brown's falls into the 30% tax bracket and has a December 31 year end.

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  • CreatedJuly 16, 2015
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