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Riffe, while serving as an officer of Wilshire Oil Company, received a secret commission for work he did on behalf of a competing corporation. Can Wilshire Oil recover these secret profits and, in addition, recover the compensation paid to Riffe by Wilshire Oil during the period that he acted on behalf of the competitor? Explain.
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Record the purchase in a horizontal statements model like the following one.
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Kling Company was organized in late 2010 and began operations on January 2, 2011. Prior to the start of operations, it incurred the following costs:
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