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Question 3.12 - Prepare a multiple-step income statement for JackRabbit, Inc. from the single- step...

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Question 3.12 - Prepare a multiple-step income statement for JackRabbit, Inc. from the single- step statement provided on Page 146 and answer the following questions using the multiple-step statement M 6.3 a. The gross profit. b. Operating profit c. Other income (expense) total. d. Pre-tax income 3.12. Prepare a multiple-step income statement for Jackrabbit Inc. from the following single- step statement Net sales Gain on sale of equipment Interest income $1,840,000 15,000 13,000 1,868,000 Costs and expenses: Cost of goods sold Selling expenses General and administrative expenses Depreciation Equity losses Interest expense Income tax expense Net income 1,072,000 270,000 155,000 24,000 9,000 16,000 96,000 $ 226,000 A

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