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QUESTION

Sellall Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end:

Sellall Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Administrative Expenses, $1,500; Cost of Goods Sold, $17,820; Income Tax Expense, $2,630; Interest Expense, $1,400; Interest Revenue, $160; General Expenses, $1,700; Sales Revenue, $33,000; Sales Discounts, $1,650; Sales Returns and Allowances, $1,485; and Delivery (freight-out) Expense, $210.

Prepare a multistep income statement for distribution to external financial statement users.

SELLALL DEPARTMENT STORES

Income Statement

For the Year Ended December 31

17,820

Gross Profit

Income from Operations

1,400

160

Income before Income Tax Expense

2,630

Net Income

I have only been able to find out certain information on the income statement and unable to find out the other entries

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