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13. Samantha's Snow Blowers financed a retail store by receiving $2,500 invested by shareholders and $27,500 of borrowed cash. Rent of $3,100 was paid for
13. Samantha's Snow Blowers financed a retail store by receiving $2,500 invested by shareholders and $27,500 of borrowed cash. Rent of $3,100 was paid for the first month. Other operating costs paid for during the first month totaled $11,000. Snow blowers costing $15,500 were purchased for cash. By the end of the month, employees were paid $7,500, and all but $2,000 of the snow blowers had been sold for $49,000 cash. Income taxes paid totaled $4,200. (4 pts.) A. Prepare an income statement for the first month of operations. B. How much cash remains at the end of the month? C. Briefly explain why the net income in part A differs from the cash amount in part B
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