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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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