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S&R Rentals rents and services different types of yard-improvement equipment. Information about the company's financial performance is provided below:
Average share outstanding= $15,000Cost of goods sold = $44,000Debt outstanding= $90,000General and administrative expenses = 12,500Income tax expense=5,300Interest expense=8,800Payments to owners=20,000Rental revenue=41,000Sales revenue=28,700Selling expense=5,150Service revenue=23,900
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