A single-step income statement follows. Present the information in a multistep income statement, and indicate what insights
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Nomar Parra Company Income Statement For the Year Ended December 31, 2014 Revenues: Net sales Interest income Total revenues $1,197,132 5,720 $1,202,852 Costs and expenses: Cost of goods sold Selling expenses General and administrative expenses Interest expense Total costs and expenses $777,080 203,740 100,688 13,560 1,095,068 107,784 Net income
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Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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