Comfy Home hired an accountant to create financial statements for its first year in business, from January
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Question:
Comfy Home hired an accountant to create financial statements for its first year in business, from January 1, 2014 through December 31, 2014. The company did not pay any dividends in 2014.
Which of the following amounts can be determined by looking solely at the income statement for the year ended December 31, 2014 (not looking at any other financial statements or other information)?
Group of answer choices
Cash sales made during 2014
Interest paid in 2014
Income taxes recorded for the year 2014
Accounts receivable outstanding at the end of 2014
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