Sales 312,000 $
Cost of goods sold 134,480
Gross Margin 177,520
Selling & administrative expenses (81,567)
Net operating income 95,953
Interest expense 7,260 -
Net income before taxes 88,693
Income tax expense 16,500 -
Net Income 72,193 $
Retained earnings beginning of year 1,429,707 $
Net ...
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