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The income statement and balance sheet columns of Iron and Larkspur Company's worksheet reflect the following totals: Income Statement Balance Sheet Dr. Cr. Dr. Cr. Totals $72700 $45100 $59400 $87000 The net income (or loss) for the period is O not determinable. O $27600 loss. O $45100 income. O $27600 income.

The income statement and balance sheet columns of Iron and Larkspur Company's worksheet reflect the following totals: Income Statement Balance Sheet Dr. Cr. Dr. Cr. Totals $72700 $45100 $59400 $87000 The net income (or loss) for the period is O not determinable. O $27600 loss. O $45100 income. O $27600 income.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The income statement and balance sheet columns of Iron and Larkspur Company's worksheet reflect the following totals: Income Statement Balance Sheet Dr. Cr. Dr. Cr. Totals $72700 $45100 $59400 $87000 The net income (or loss) for the period is O not determinable. O $27600 loss. O $45100 income. O $27600 income.
Transcribed Image Text:The income statement and balance sheet columns of Iron and Larkspur Company's worksheet reflect the following totals: Income Statement Balance Sheet Dr. Cr. Dr. Cr. Totals $72700 $45100 $59400 $87000 The net income (or loss) for the period is O not determinable. O $27600 loss. O $45100 income. O $27600 income.
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