Question: During the year ended August 31, 2017, Vaughn Ltd. had revenues of $25,000,000 and expenses of $16,850,000. In addition, the company had other comprehensive income

During the year ended August 31, 2017, Vaughn Ltd. had revenues of $25,000,000 and expenses of $16,850,000. In addition, the company had other comprehensive income of $-155,000.

Required:
Prepare an income statement and a statement of comprehensive income for Vaughn
Ltd. for the year ended August 31, 2017.

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