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On January 1, 2023, Premium Co. purchased equipment for filing sales reports. Premium expects to use this equipment for ten years. The income statement for

On January 1, 2023, Premium Co. purchased equipment for filing sales reports. Premium expects to use this equipment for ten years. The income statement for the year, 2023, should include: O One-tenth of the cabinet costs in selling, general, and administrative expenses One-tenth of the cabinet costs in cost of goods sold. All of the cabinet costs in selling, general, and adminstrative exenses. O All of the cabinet costs in cost of goods sold

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