Given the following information, prepare an income statement for year ended December 31. ...
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Accounting
Given the following information, prepare an income statement for year ended December 31.
($000)
Stockholder's equity 500
Accounts payable 150
Cost of goods sold 55
Accumulated depreciation 500
General & administrative expenses 12
Taxes 40%
Preferred stock dividends 5
Interest expense 5
Sales revenue 100
Depreciation expense 10
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