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The following information was drawn from the records of Toner Sales Company: Year 1 Year 2 Net sales $ 50,000 $ 50,000 Cost of goods

The following information was drawn from the records of Toner Sales Company: Year 1 Year 2 Net sales $ 50,000 $ 50,000 Cost of goods sold (20,000) (22,500) Operating expenses (12,500) (15,000) Loss on the sale of land 0 (8,000)

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