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An income statement may be represented as follows: Select one: a. Sales - Liabilities = Profits. b. Revenues - Liabilities = Net Income. c. Sales

An income statement may be represented as follows:

Select one:

a. Sales - Liabilities = Profits.

b. Revenues - Liabilities = Net Income.

c. Sales - Revenue = Retained Earnings.

d. Sales - Expenses = Retained Earnings.

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