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Required information Skip to question [The following information applies to the questions displayed...

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Accounting

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[The following information applies to the questions displayed below.]
Vitamix reports the following information for its year ended December 31:
Cash sales $ 100,000
Sales on credit 130,000
General and administrative expenses 37,000
Sales returns 15,000
Cost of goods sold 90,000
Sales discounts 6,000
Selling expenses 64,000
Use the above information to prepare the gross profit section of a multiple-step income statement.

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