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1. Using the following accounts from the retail store, A-Mart Incorporated's statement for the year...

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1. Using the following accounts from the retail store, A-Mart Incorporated's statement for the year ending in December 31, 2013, answer the questions below. Note that all figures are in millions. Show your solutions. Cost of goods sold Php 600 Lease Payments 30 Advertising 20 Taxes 35 Repairs and maintenance expenses 40 Management salaries 100 Net Sales 1000 Depreciation 60 A-Mart's gross profit is b. A-Mart's operating profit is C. A-Mart's complete Income Statement a

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