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Presented below is the income statement of Fenholloway Inc. FENHOLLOWAY INC. INCOME STATEMENT Sales of sSolkt Gross Margin From Sales Operating Expenses Income Before Income

Presented below is the income statement of Fenholloway Inc. FENHOLLOWAY INC. INCOME STATEMENT Sales of sSolkt Gross Margin From Sales Operating Expenses Income Before Income Taxes Income Tax Expense Net Income 380,000 225,000 155,000 85,000 70,000 28,000 42,000 In addition, the following information related to net changes in working capital is provided

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