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Income Statement (with the cost of goods sold adjustment). Required: Show using an income statement...

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Accounting

Income Statement (with the cost of goods sold adjustment). Required: Show using an income statement for the year ended December 31. Rambler Company had the following activity for the year ended December 31:

Sales revenue $2,050,000 Selling expenses $ 575,000 General and administrative expenses $ 330,000 Cost of goods sold (before adjustment) $ 700,000 Under-applied overhead $ 23,000

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