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Company A and Company B are identical except for the following: In 2020, Company A paid $10,000 for legal fees to successfully defend a patent.

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Company A and Company B are identical except for the following: In 2020, Company A paid $10,000 for legal fees to successfully defend a patent. In 2020, Company B paid $10,000 for advertising costs. Which company reports the higher net income on the 2020 income statement? [Select] Which company reports the higher total assets on the 2020 balance sheet? [Select]

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