Question: Using the following accounts, prepare a single-step income statement at year end, May 31, 20xx: Cost of Goods Sold, $840; General Expenses, $450; Interest Expense,

Using the following accounts, prepare a single-step income statement at year end, May 31, 20xx: Cost of Goods Sold, $840; General Expenses, $450; Interest Expense, $210; Interest Income, $90; Net Sales, $2,400; Selling Expenses, $555.

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