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Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales Costs $46,200 34,200 Taxable income Taxes (25%) $12,000 3,000

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Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales Costs $46,200 34,200 Taxable income Taxes (25%) $12,000 3,000 Net income $ 9,000 $3,800 Dividends Addition to retained 5,200

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