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The following balances were taken from the books of Novak Corp.
on December 31, 2020.
Sales returns and allowances
Allowance for doubtful accounts
Administrative and general expenses
Loss from earthquake damage
Cost of goods sold
Assume the total effective tax rate on all items is 20%.
Prepare a multiple-step income statement; 100,000 shares of common
stock were outstanding during the year. (Round earnings
per share to 2 decimal places, e.g. 1.48.)
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