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Clayton Advertising Company has the following account balances in its accounting system at year- end 2017: Advertising Revenue (Cash) $40,000; Advertising Revenue (Credit) $80,000; Salaries
Clayton Advertising Company has the following account balances in its accounting system at year- end 2017: Advertising Revenue (Cash) $40,000; Advertising Revenue (Credit) $80,000; Salaries & Wages Expense $68,000; Rent Expenses $24,000; Depreciation Expense-Machinery $40,000; Insurance Expenses $14,000; Interest Income $8,000; Interest Expenses $10,000. The net profit (or loss) for the period is: (Type answer without the $ or comma eg: 10000. In case of a loss indicate by placing "-" immediately before the number eg: -10000)
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