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8.Prepare a profit and loss statement for a boutique with the following figures and determine if the store operated at a profit: Gross sales $104,000

8.Prepare a profit and loss statement for a boutique with the following figures and determine if the store operated at a profit:
Gross sales $104,000
Customer returns 5,000
Billed costs 49,000
Inward freight 10,000
Advertising 7,500
Rent 12,000
Alterations 1,000
Salaries 16,000
Miscellaneous expenses 5,000

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