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Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Prepare a multiple-step income statement that includes separate categories for net sales; cost of goods sold; selling expenses; general and administrative expenses; and other revenues, gains, expenses, and losses. Categorize the following accounts as selling expenses: Sales Staff Wages, Rent Expense—Selling Space, TV Advertising Expense, and Sales Commission Expense.
Categorize the remaining expenses as general and administrative.
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