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Consider the following transactions for Delta Ltd. for the month of March: Sales Revenue: $50,000 Purchases: $20,000 Rent Expense: $4,000 Utilities Expense: $3,000 Salaries Expense:
Consider the following transactions for Delta Ltd. for the month of March:
- Sales Revenue: $50,000
- Purchases: $20,000
- Rent Expense: $4,000
- Utilities Expense: $3,000
- Salaries Expense: $10,000
- Depreciation Expense: $1,500
Calculate Delta Ltd.'s Net Income and prepare an Income Statement for the month of March.
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