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In April, Holderness Incorporated, a merchandising company, had sales of $281,000, selling expenses of $20,000, and administrative expenses of $31,000. The cost of merchandise purchased during the month was $167,000. The beginning balance in the merchandise inventory account was $40,000 and the ending balance was $54,000.

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Prepare a traditional format income statement for April.

In April Holderness Incorporated a merchandising company had sales of 281000 selling expenses of 20000 and administrative expenses of 31000 The cost of merchand class=


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