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What the net profit or loss on income statement should be

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Ted told Ian that it was necessary to include all relevant information on an income statement and showed Ian the following data:

Owner investment: $8,000
Revenue: $15,000
Equity: $21,000
Expenses: $3,000

Problem 1: Based on this data, the net profit or loss on the income statement should be

Reference no: EM132765132

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