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INCOME STATEMENT DEBITS CREDITS TOTAL REVENUE EXPENSES $ 1 0 , 0 0 0 TOTAL EXPENSES NET INCOME $ 1 1 2 , 0 0

INCOME STATEMENT

DEBITS CREDITS

TOTAL REVENUE

EXPENSES $

10, 000

TOTAL EXPENSES

NET INCOME $

112, 000

If Rose is preparing an income statement with $

7, 000

in owner's equity, what should she record as her total revenue?

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