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Business, 09.10.2021 09:40 katiewhitlock1014

The adjusted trial balance of Pacific Scientific Corporation on December 31, 2021, the end of the company's fiscal year, contained the following income statement items ($ in millions): sales revenue, $2,160; cost of goods sold, $1,340; selling expense, $165; general and administrative expense, $155; interest expense, $30; and gain on sale of investments, $70. Income tax expense has not yet been recorded. The income tax rate is 25%. Prepare a multiple-step income statement for 2021.

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The adjusted trial balance of Pacific Scientific Corporation on December 31, 2021, the end of the co...
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