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In October,Patnode Inc. ,a merchandising company,had sales of $294,000,selling expenses of $27,000,and administrative expenses of $35,000.The cost of merchandise purchased during the month was $211,000.The beginning balance in the merchandise inventory account was $38,000 and the ending balance was $34,000.
Required:
Prepare a traditional format income statement for October.
Self-efficacy
An individual's belief in their own capability to execute behaviors necessary to produce specific performance attainments.
Skill Level
The degree of competence or proficiency one possesses in a particular activity or domain.
Beliefs
Convictions or acceptances that something is true without the need for proof or evidence.
Intelligence
The cognitive ability of an individual to learn from experience, solve problems, and use knowledge to adapt to new situations.
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