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Business, 24.06.2019 09:10 kellywelly82

The following is information is from clark corporation’s financial records for the current fiscal year. i. cash received from customers, $255,000 ii. revenue earned, $230,000 iii. cash paid for wages, $115,000 iv. wage expense incurred, $110,000 v. cash paid during the current year for computers that will be used for 3 years, $30,000 vi. depreciation expense, $10,000 vii. proceeds from issuing debt (e. g., borrowed money from a bank), $30,000 viii. interest incurred on debt, $3,000 ix. cash paid for supplies, $2,000 x. supplies expense incurred, $4,000 what is the company’s net income for the current year using the cash-basis of accounting?

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