10. Construct an income statement using the following information: net sales, $500,000; salaries, $100,000; rent, $24,00

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answerhappygod
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10. Construct an income statement using the following information: net sales, $500,000; salaries, $100,000; rent, $24,00

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10. Construct an income statement using the following
information: net sales, $500,000; salaries, $100,000; rent,
$24,000; COGS, $250,000; utilities, $25,000; payroll taxes,
$25,000; insurance, $12,000; and interest expense, $5,450. Make
sure that you include gross profit, operating expenses, and net
income. Note: how does net income get treated for a
corporation?
Could you send in an income statement template/format?
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