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The following data are availale for Cut Throat Products, a partnership: Year Sales Beginning Inventory Ending Inventory Operating Expenses 2003 $ 93,600 $ 16,000 $
The following data are availale for Cut Throat Products, a partnership:
Year Sales Beginning Inventory Ending Inventory Operating Expenses
2003 $ 93,600 $ 16,000 $ 24,000 $8,000
2004 $ 93,600 $ 16,000 $ 24,000 $18,000
2005 $ 93,600 $ 16,000 $ 24,000 $12,000
Compute the purchases and the net income for the partnership for 2013,2014, and 2015, assuming that the firm sell its merchndise at 25 percent above cost.
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