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ezto.mheducation.com El 0:. / o \\ w w Case Study 1A 0 Saved Help Save 1. Exit Submit m In April, Holderness Inc, a merchandising company, had sales of $266,000, selling expenses of $18,500, and administrative expenses of $29,500. The cost of merchandise purchased during the month was $164,000. The beginning balance in the merchandise inventory account was $38,500 and the ending balance was $52,500. Required: Prepare a traditional format income statement for April. 5'\"