E5-22 Preparing a merchandiser’s multi-step income

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E5-22 Preparing a merchandiser’s multi-step income statement to evaluate
the business [10–15 min]

Review the data in Exercise 5-21.

Requirement
1. Prepare Budget’s multi-step income statement

data from E5-21 Budget Business systems
Worksheet
Cash 2,400
Accounts receivable 8,900 a) 2,500
Inventory 36,500 b) 4,800

so on....