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Cost of Goods Sold 70,000 Dividends Declared 5,000 Flood Loss (pre-tax) General Expense 12,000 8,000 Other Income 9,000 Other Expense 11,000 Retained Earnings, January 1,

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Cost of Goods Sold 70,000 Dividends Declared 5,000 Flood Loss (pre-tax) General Expense 12,000 8,000 Other Income 9,000 Other Expense 11,000 Retained Earnings, January 1, 2010 116,000 Sales 131,000 Selling Expense 7,000 Calculate EBIT |

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