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Consider the following information regarding Saturn Ltd. for the month of June: Sales Revenue: $50,000 Purchases: $20,000 Salaries Expense: $5,000 Rent Expense: $2,000 Utilities Expense:
Consider the following information regarding Saturn Ltd. for the month of June:
- Sales Revenue: $50,000
- Purchases: $20,000
- Salaries Expense: $5,000
- Rent Expense: $2,000
- Utilities Expense: $1,500
- Depreciation Expense: $3,000
Calculate Saturn Ltd.'s Net Income and prepare an Income Statement for the month of June.
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Introduction To Financial Accounting
Authors: Anne Marie Ward, Andrew Thomas
7th edition
77138449, 978-0077132682, 77132688, 978-0077138448
