ANSWERS TO QUESTIONS

Roxanne Carter Corporation Income Statement and Comprehensive Income Statement For the Year Ended December 31, 2007 Sales $1,200,000 Cost of goods sold 750,000 Gross profit 450,000 Selling and administrative expenses 320,000 Net income $ 130,000 Net income $ 130,000 Unrealized holding gain 18,000 Comprehensive income $ 148,000 EXERCISE 4-15 (15 ... ................
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