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What is Canberra Ltd net profit

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Question - During 2012 Canberra Ltd makes cash sales of $160,000 and credit sales of$1,600,000. $1,200,000 of the credit sales was collected by year-end. It pays $360,000 in expenses and accrued expenses increases by $120,000 during 2012. In addition, Canberra Ltd declared and paid dividends of $160,000. Depreciation for the year amounts to $80,000. What is Canberra Ltd's net profit for 2012?

Reference no: EM132618474

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