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Balance sheet element:

Inventory/Finished Goods
Other Current Assets
PPE: Molds and Dies
Income Taxes Payable
Accrued Expenses

Coordinating income statement element it would affect:

Choices are:
Net Sales
Cost of Products Sold
Selling, General & Admin.
Interest
Income before taxes
Income Taxes
Net Income
Net income per common share and common share equivalent
Average number of common shares and common share equivalents outstanding

Each of the 4 balance sheet elements needs only to be linked with one income statement element. Thank you!

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Solution Summary

This solution matches the items by linking balance sheet with income statements.

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Inventory/Finished Goods - cost of products sold (when inventory is sold it appears in the income statement under cost of goods sold)

Other Current Assets - Selling, General & Admin. (when other ...

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