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Departmental Income Statement Perkins Appliance & Furniture Company has two departments, appliances and...

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Accounting

Departmental Income Statement
Perkins Appliance & Furniture Company has two departments, appliances and furniture. Operating information for the year appears below.
a. Prepare a departmental income statement showing departmental contribution to common expenses and net income of the firm. Assume an overall effective income tax rate of 40%. Perkins uses a periodic inventory system.
Do not use negative signs with any of your answers below.
Perkins Appliance & Furniture Company
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