The following inc ome statement items appeared on the adjusted trial balance of...
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Accounting
The following inc
ome statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for the year ended December $ in thousands: sales revenue, $; cost of goods sold, $; selling expenses, $; general and administrative expenses, $; interest revenue, $; interest expense, $ Income taxes have not yet been recorded. The companys income tax rate is on all items of income or loss. These revenue and expense items appear in the companys income statement every year. The companys controller, however, has asked for your help in determining the appropriate treatment of the following nonrecurring transactions that also occurred during $ in thousands All transactions are material in amount.
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