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Brief Exercise 24-1 (Essay) An annual report of Crestwood Industries states, The company and its subsidiaries have long-term leases expiring on various dates after December

Brief Exercise 24-1 (Essay)

An annual report of Crestwood Industries states, The company and its subsidiaries have long-term leases expiring on various dates after December 31, 2017. Amounts payable under such commitments, without reduction for related rental income, are expected to average approximately $5,711,000 annually for the next 3 years. Related rental income from certain subleases to others is estimated to average $3,094,000 annually for the next 3 years.

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