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Question 14 ABC Company reported the following on its Year 1 Income Statement: Cost of Goods Sold $400 Loss on Sale of Land $700 Revenue

Question 14 ABC Company reported the following on its Year 1 Income Statement: Cost of Goods Sold $400 Loss on Sale of Land $700 Revenue $1.790 Selling and Administrative Expenses $90 What is ABC's Net Income for Year 1? $1,390 $2,000 $1,300 $600

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