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7. Given the following Balance Sheet extract, calculate the net prot on the Income Statement. (Assuming tax rate = 10% of operating prot) Balance sheet

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7. Given the following Balance Sheet extract, calculate the net prot on the Income Statement. (Assuming tax rate = 10% of operating prot) Balance sheet Extract: Shareholders Equity Common Stock 200 Retained Earnings 25 Revenues 170 Cost of Sales (103) Salaries (30) Interest (12)

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