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Posted: August 24th, 2020

Sellall Department Stores reported the following amounts in itsadjusted trial balance

Sellall Department Stores reported the following amounts in itsadjusted trial balance prepared as of its December 31 year-end:Administrative Expenses, $3,100; Cost of Goods Sold, $26,460;Income Tax Expense, $3,420; Interest Expense, $1,700; InterestRevenue, $220; General Expenses, $3,300; Sales Revenue, $49,000;Sales Discounts, $2,450; Sales Returns and Allowances, $2,205; andDelivery (freight-out) Expense, $370. Prepare a multistep incomestatement for distribution to external financial statementusers

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