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Question

On your own words, explain the purpose and the importance of the income statement, and

prepare the income statement for Max company based on the following information taken from the trial balance in December 2018 

Revenue

70,000

Supplies expense

3,000

Rent expense

6,000

Wages expense

22,000

 

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Subject: Accounting, Business
On your own words, explain the purpose and the importance of the income statement, and prepare the income statement for Max company based on the
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