The selected accounts from the Grouper Corp.s accounting records are presented below for the year...
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Accounting
The selected accounts from the Grouper Corp.s accounting records are presented below for the year ended December 31, 2022: Advertising expense $ 50,600 Interest revenue $ 27,600 Common stock 230,000 Inventory 61,640 Cost of goods sold 998,200 Rent revenue 22,080 Depreciation expense 115,000 Retained earnings 492,200 Dividends 138,000 Salaries and wages expense 621,000 Freight-out 23,000 Sales discounts 7,820 Income tax expense 64,400 Sales returns and allowances 37,720 Insurance expense 13,800 Sales revenue 2,208,000 Interest expense 64,400 Prepare a multiple-step income statement.
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