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Blue Corporation and Swifty Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe-tracing devices. Each company depreciates its
Blue Corporation and Swifty Corporation, two companies of roughly the same size, are both involved in the manufacture of shoe-tracing devices. Each company depreciates its plant assets using the straight-line approach. An investigation of their financial statements reveals the information shown below. Net income Sales revenue Total assets (average) Plant assets (average) Intangible assets (goodwill) (a) Blue Corp. $245,420 1,753,000 3,506,000 2,880,000 432,100 Swifty Corp. $ 330,600 2,066,250 2,755,000 1,826,000 0
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