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  1. business
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  3. explain the following parts of an income statement

explain the following parts of an income statement: Gross profits Operating expenses Operating profits Net...

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Question

Accounting

explain the following parts of an income statement:

Gross profits

Operating expenses

Operating profits

Net profits

Prepare an income statement for a profitable small business

. Include at least 10 operating expenses.

Use an income tax rate of 25%.

ANSWER IN WORD FORMAT A ORIGINAL SOURCE NOT USED BEFORE NOT ATTACHMENT PLEASE AND ANSWER THROUGHLY. THANK YOU.

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