Question: From the following data, prepare a multiple-step income statement for the Huffman Company for the fiscal year ended May 31, 20X0 ($ in thousands except

From the following data, prepare a multiple-step income statement for the Huffman Company for the fiscal year ended May 31, 20X0 ($ in thousands except forpercentage).

$2,800 Sales Interest expense Utilities expense Interest revenue Income tax rate $1,800 160 80 400 Cost of goods sold 138 Depreciation expense 110 Rent revenue 28 40% Wage expense

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