Question: Question 2 (20 marks) Required: A. Use the data from Question 1 to prepare a multistep income statement for Nothing New at July 31, 2018

Question 2 (20 marks) Required: A. Use the data from Question
1 to prepare a multistep income statement for Nothing New at July

Question 2 (20 marks) Required: A. Use the data from Question 1 to prepare a multistep income statement for Nothing New at July 31, 2018 year end. B. Owner, Nathan New, tries to achieve a gross margin of at least 40% and a net income of at least 15%. Keeping in mind that net income percentage is equal to net incomefnet sales revenue, has Nathan New achieved those results

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