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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
The adjusted trial balance of Pacific Scientific Corporation on December 31, 2013, the end of the company’s fiscal year, contained the following income statement items ($ in millions): sales revenue, $2,165; cost of goods sold, $1,370; selling expenses, $180; general and administrative expenses, $170; interest expense, $45; and gain on sale of investments, $100. Income tax expense has not yet been accrued. The income tax rate is 30%. Prepare a single-step income statement for 2013. Ignore EPS disclosures. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
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