Prepare a multiple-step income statement for Surry Co.from the following data for the year ended December 31,2010.
Sales,$915,000;cost of merchandise sold,$670,000;administrative expenses,$30,000;interest expense,$12,000;rent revenue,$19,000;sales returns and allowances,$55,000;selling expenses,$120,000.

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The Answer of Prepare a multiple-step income statement for Surry Co.from the following data for the year ended December 31,2010.
Sales,$915,000;cost of merchandise sold,$670,000;administrative expenses,$30,000;interest expense,$12,000;rent revenue,$19,000;sales returns and allowances,$55,000;selling expenses,$120,000.

Prepare a Multiple-Step Income Statement for Surry Co