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Cash dividends-common -78 = $119,000 Common shares 644,000 Depreciation expense 91,000 Service revenue 1,465.000 Operating expenses 925.000 Interest expense 54,000 Retained earnings, November 1, 2020

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Cash dividends-common -78 = $119,000 Common shares 644,000 Depreciation expense 91,000 Service revenue 1,465.000 Operating expenses 925.000 Interest expense 54,000 Retained earnings, November 1, 2020 569,000 N Your analysis reveals the following additional information: 1. The company has a 25% income tax rate. 2. On March 19, 2021, Ivanhoe discovered an error made in the previous fiscal year. A $55,000 payment of a note payable had been recorded as interest expense. 3. On April 10, 2021, common shares costing $75,000 were reacquired for $99,000. This is the first time the company has encouicod.common.chure

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