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Tito Inc. had the following account balances: Sales revenue $ 220,000 ...

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Accounting

Tito Inc. had the following account balances:

Sales revenue $ 220,000
Cost of goods sold 110,000
Salaries and wages expense 20,000
Depreciation expense 20,000
Dividend revenue 6,000
Utilities expense 12,000
Rent revenue 30,000
Interest expense 18,000
Sales returns and allow. 16,500
Advertising expense 19,500

What would Ortiz report as total expenses in a single-step income statement?

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