intermediate accounting,(19) edition Online. × Search Te Course Home-SU1201 X ?

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intermediate accounting,(19) edition Online. × Search Te Course Home-SU1201 X ? Secure I ps//cvg.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?takeAssignmentSessionLocator ment: Chapter 4 -Homework (Graded) ions Practice 4-01 Identifying Income Statement Items 400 .100 250 160 1640 550 860 50 ....200 700 1,200 330 Capital stock Cash Cost of goods sold... Equipment...w Inventory Loans payable Prepald rent.... Rent expense Sales revenue Utilities expense Using the information provided above, compute net income. acctg 321 - Soluti..dcAcctg 321-Solut..doc O Type here to search

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4.01.

note: all expenses and revenues will be income statement items:

sales revenue 1,200 less: cost of goods sold (250) Gross profit 950 less: rent expense (200) less:utilities expense (330) Net income $420

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