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UOP ACC 290 Week 3 Problem 5-5A (Simon Company) NEW
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Purpose of Assignment
The purpose of this assignment is to help you become familiar
with the parts of the multiple‐step income statement.
Assignment Steps
Resources: Financial Accounting: Tools for Business Decision
Making
Scenario: An inexperienced accountant prepared this
condensed income statement for Simon Company a retail firm
that has been in business for a number of years.
SIMON COMPANY
Income Statement
For the Year Ended December 31, 2017
Revenues
Net sales
$850,000
Other revenues