The account balances below are taken from the records of GILBERTON Retail Prepare an income statement under
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The account balances below are taken from the records of GILBERTON Retail Prepare an income statement under the perpetual inventory system for the year ended 30 June 2016.
Cost of sales…………………………………..$ 102 620
Inventory, 30 June 2016………………………….12070
Selling and distribution expenses……………….. 32730
Sales…………………………………………….163810
Sales returns and allowances……………………...3880
Administrative expenses…………………………10750
Freight inwards……………………………………2020
Finance expenses………………………………….1360
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Related Book For 
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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