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  3. the following is a listing of all of the income st

The following is a listing of all of the income statement accounts for Mulberry Street...

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Accounting

The following is a listing of all of the income statement accounts for Mulberry Street Sportswear as they appear on the adjusted trial balance as of December 31. Advertising Expense $ 11,600 Cost of Goods Sold 87,100 Delivery Expense 4,700 Insurance Expense 1,500 Income Tax Expense 6,240 Rent Expense 10,800 Interest Expense 1,500 Sales Revenue 161,500 Sales Discounts 10,500 Sales Returns & Allowances 18,200 Required: Prepare a multistep income statement. Include all operating expenses in one line item called Selling, General and Administrative Expenses and all non-operating revenues(expenses) in one line item called Other Revenue (Expenses), net. Compute the gross profit percentage

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