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Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31,
Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2017, and (2) as of December 31, 2018, after giving effect to the situation. Net income for 2018 was $82,000. Total assets on December 31, 2018, were $1,148,000.
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