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A company sells a product for 1 0 0 , 0 0 0 cash, pays 7 0 , 0 0 0 of expenses, and pays

A company sells a product for

100, 000

cash, pays

70, 000

of expenses, and pays

5, 000

in taxes. Describe the effects of this transaction on:

The balance sheet

The Income statement

The statement of shareholders' equity

The statement of cash flow

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