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6) Income Statement Preparation ABC Corporation had $975,000 in sales in 2019. They spent $32,000...

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6) Income Statement Preparation ABC Corporation had $975,000 in sales in 2019. They spent $32,000 marketing expenses, $100,000 on salaries. The company recognized $45,000 in depreciation in the year and spent $45,000 on other operating expenses. They spent $450,000 on inventory purchases as well as $12,00 on freight in. Their opening balance in inventory was $45,000 and their closing balance was $55,000. Prepare an income statement for 2019 assuming a 25% tax rate

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