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HinsonCo purchases a $100,000 semi-tractor, how will this affect the Income Statement for that first year?Group of answer choicesThis will affect the Balance Sheet but
HinsonCo purchases a $100,000 semi-tractor, how will this affect the Income Statement for that first year?Group of answer choicesThis will affect the Balance Sheet but never the Income StatementNet income will only be affected when the tractor generates revenueNet income will decrease by $100,000.Net income will decrease by that year's depreciation amount on the tractor
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