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ERS Inc. maintains and repairs office equipment. ERS had an average of 10,000 shares of common stock outstanding for the year. The following income
ERS Inc. maintains and repairs office equipment. ERS had an average of 10,000 shares of common stock outstanding for the year. The following income statement account balances are available for ERS for the year ended December 31. Advertising expense Salaries expense Depreciation expense $24,240 (for administrative personnel) (on service van) 16,220 Service revenue Income taxes expense 15,150 Supplies expense Insurance expense 11,900 Utilities expense $195,600 934,500 66,400 26,100 Interest expense 10,100 Wages expense Rent expense 58,400 (for service technicians) 448,300
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