Calculating Income for Acme Consulting
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Acme Consulting has the following operating data for last year.
Revenues $175,000
Supplies Expense $45,000
Salaries $70,000
Rent Expense $1,500
Accounts Payable $8,000
Administrative Expense $6,000
Cash collections from prior year's sales $10,000
What is income before tax?
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Solution Summary
Income Statement Calculations are examined for Acme Consulting.
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