Use the following information to prepare a multiple-step income statement, including the revenue section and the cost of goods sold section, for Aeito’s Plumbing Supplies for the year ended December 31, 20–. Sales ……………. $166,000Sales Returns and Allowances …….. 1,620Sales Discounts …………. 3,320Interest Revenue ………… 3,184Merchandise Inventory, January 1, 20– …. 33,200Purchases …………….. 111,300Purchases Returns and Allowances ….. 3,600Purchases Discounts …………. 2,226Freight-In …………….. 640Merchandise Inventory, December 31, 20– . 29,600Wages Expense ………… 22,000Supplies Expense ………….. 650Telephone Expense ……….. 1,100Utilities Expense ………… 9,000Insurance Expense ………… 1,000Depreciation Expense—Building …… 4,600Depreciation Expense—Equipment ….. 2,800Miscellaneous Expense ………. 214Interest Expense ………… 1,126View Solution:
Use the following information to prepare a multiple step income



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