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    Income Statement Help

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    Brandywine Homecare, a not-for-profit business, had revenues of $12 million in 2007. Expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was $1.5 million. All revenues were collected in cash during the year and all expenses other than depreciation were paid in cash.

    1. Construct Brandywine's 2007 income statement.

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    Solution Summary

    Income statement help is offered.