Consider the following income statement: a. How does this income statement differ from the one presented in

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Consider the following income statement:image text in transcribed

a. How does this income statement differ from the one presented in Table 3.1?

b. Did BestCare spend $367,000 on new fixed assets during fiscal year 2007? If not, what is the economic rationale behind its reported depreciation expense?

c. Explain the provision for bad debts entry.

d. What is BestCare’s total profit margin? How can it be interpreted?

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