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1) Answer the following in reference to the following statements: Income statement Statement of owners' equity Balance sheet Statement of cash flows 2) Specify in

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1) Answer the following in reference to the following statements: Income statement Statement of owners' equity Balance sheet Statement of cash flows 2) Specify in the space provided the effect of each of the following accounting events on assets, liabilities, and owners' equity. Use I for Increase, D for Decrease, and NA for Not Applicable. (Hint: Remember the accounting equation)

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