A review of the income surplus account shows that the net, Ask an Expert

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A review of the income surplus account shows that the net profit after tax for the year was $968000. The gross profit on sales was 40% and net profit as a percentage of net sales was 8% . The tax rate is 25%. selling and administrative expenses were the same amount.

required: show the income statement reconstructed.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92050181

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