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The income statement and balance sheets for Laser World are provided below: For the Year Ended December 31, 2024 Sales revenue Cost of goods sold
The income statement and balance sheets for Laser World are provided below: For the Year Ended December 31, 2024 Sales revenue Cost of goods sold Gross profit Expenses: LASER WORLD Income Statement Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income $2,300,000 1,560,000 740,000 342,000 68,000 4,500 20,000 50,000 484,500 $255,500
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