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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, liability, stockholders' equity, revenue, or expense account. The first item is given as an example. 2. Old Time Cable also reported $6,140 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 2. Accounts Receivable 1,780 Balance Sheet 9,100 Asset 1,800 3. Interest Expense 740 4. Deferred Revenue 1,100 5. Income Tax Expense 430 6. Retained Earnings 300
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