Question: Summary operating data for The Voodoo Company during the current year ended November 30, 2008, are as follows: cost of merchandise sold, $2,175,350; administrative expenses,

Summary operating data for The Voodoo Company during the current year ended November 30, 2008, are as follows: cost of merchandise sold, $2,175,350; administrative expenses, $500,000; interest expense, $23,200; rent revenue, $30,000; net sales, $4,000,000; and selling expenses, $880,000. Prepare a single-step income statement.

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