ACC 307 3-3 Homework 1 - The adjusted trial balance of...

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The adjusted trial balance of Pacific Scientific Corporation on December 31, 2013, the end of thecompany’s fiscal year, contained the following income statement items ($ in millions): sales revenue,$2,170; cost of goods sold, $1,380; selling expenses, $185; general and administrative expenses, $175;interest expense, $50; and gain on sale of investments, $80. Income tax expense has not yet beenaccrued. The income tax rate is 35%.Prepare a single-step income statement for 2013. Ignore EPS disclosures. (Enter your answers in

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