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QUESTION 21 Calculate the Net Income given the following Information Revenue: $6000 Gross Margin Percentage: 20% G&E expenses: $850 Depreciation Expense: $195 8 points QUESTION

QUESTION 21

  1. Calculate the Net Income given the following Information

    Revenue: $6000

    Gross Margin Percentage: 20%

    G&E expenses: $850

    Depreciation Expense: $195

8 points

QUESTION 22

  1. Differentiate between the Governmental and for-profit Financial statements. Identify the primary statements for each and briefly describe what they convey to the reader.

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