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The following selected information is for Pharoah Company for the year ended January 31, 2017:...

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Accounting

The following selected information is for Pharoah Company for the year ended January 31, 2017:

Freight in $6,500 Purchase discounts $12,000
Freight out 7,500 Purchase returns and allowances 16,300
Insurance expense 12,000 Rent expense 20,100
Interest expense 6,000 Salaries expense 60,800
Merchandise inventory, beginning 61,400 Salaries payable 2,500
Merchandise inventory, ending 42,000 Sales 325,000
O. G. Pogo, capital 105,000 Sales discounts 14,000
O. G. Pogo, drawings 42,100 Sales returns and allowances 20,500
Purchases 211,000 Unearned sales revenue 4,500

Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

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