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Ted told lan that it was necessary to include all relevant information on an income statement and showed lan the following data: Owner investment: $8,000

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Ted told lan that it was necessary to include all relevant information on an income statement and showed lan the following data: Owner investment: $8,000 Revenue: $15,000 Equity: $21,000 Expenses: $3,000 Based on this data, the net profit or loss on the income statement should be

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