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Income statement information for ABC Corporation for the year 2022 is as follows: General...

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Accounting

Income statement information for ABC Corporation for the year 2022 is as follows:
General and Administrative expenses:
Salaries and Wages expense $ 45,000
Depreciation expense - Building 30,500
Office supplies expense 8,500
Inventory - ending 145,000
Loss from flood damage 60,000
Gain on disposal of equipment 6,500
Purchases 600,000
Sales Revenue 950,000
Interest expense 10,000
Freight in 15,000
Purchase discounts 9,000
Dividend revenue 22,000
Inventory - beginning 110,000
Sales returns and allowances 15,000
Services expenses:
Salaries and wages 75,000
Depreciation expense - trucks 20,000
Truck supplies expense 10,000
The effective tax rate on all income is 25%
ABC Company follows ASPE.
Required:
Prepare a multiple step income statement for 2022 showing expenses by function

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