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Required: 1. For each of the following Items in Old Time Cable, Incorporated's financial statements, Indicate (1) whether it is reported in the Income
Required: 1. For each of the following Items in Old Time Cable, Incorporated's financial statements, Indicate (1) whether it is reported in the Income statement or balance sheet and (2) whether it is an asset, llability, stockholders' equity, revenue, or expense account. The first Item is given as an example. 2. Old Time Cable also reported $4,540 in operating expenses. Based on the available Information, determine the company's net profit margin expressed as a percent. Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each of the following items in Old Time Cable, Incorporated's financial statements, indicate (1) whether it is reported in the income statement or balance sheet and (2) whether it is an asset, liability, stockholders' equity, revenue, or expense account. The first item is given as an example. Item (1) Statement (2) Account Type Cash 1. Service Revenue $ 980 Balance Sheet Asset 5,900 2. Accounts Receivable 1,000 3. Interest Expense 420 4. Deferred Revenue 300 5. Income Tax Expense 270 6. Retained Eamings 140 Fecuted Required 2 >
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