In its income statement for the year ended december 31, 2014, gavin

In its income statement for the year ended December 31, 2014, Gavin Company reported the following condensed data.

Salaries and wages expenses   $465,000   Loss on disposal of plant assets   $ 83,500
Cost of goods sold   987,000   Sales revenue   2,210,000
Interest expense   71,000   Income tax expense   25,000
Interest revenue   65,000   Sales discounts   160,000
Depreciation expenses   310,000   Utilities expense  

110,000

 

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