Question: i need help help with the multi-step income statement Final Practice Problems Multi-Step Income Statement Selected accounts and other information from the ledger of Rex
Final Practice Problems Multi-Step Income Statement Selected accounts and other information from the ledger of Rex Winthrop Company at December 31, 2020, follow (amounts are in a random order). All accounts have normal balances: Depreciation Expense-Store Equipment Office Salaries Expense Cash Interest Income Sales Purchases Rent Expense Advertising Expense Purchases Discounts Accounts Payable Merchandise Inventory, December 31, 2020 Purchase Returns Store Supplies Expense Depreciation Expense-Office Equipment Utilities Expense Sales Returns and Allowances Sales Salaries Expense R. Winthrop, Drawing Interest Expense Sales Discounts Merchandise Inventory, January 1, 2020 Freight-in 18,200 60,000 $100,500 4.500 909.800 201,250 104,800 53,900 5,130 75,000 70,690 5,050 8,000 13,200 13,500 10,430 80,000 82,000 7,890 15,500 62,840 32,400 INSTRUCTIONS: Compute the net sales, cost of goods sold, gross profit, total operating expenses (selling and administrative), operating income, other income, other expense, and net income. Buy/Sell Transactions
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