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1estion 7 of 8 -15 View Policies Current Attempt in Progress Blue Company's...

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Accounting

1estion 7 of 8
-15
View Policies
Current Attempt in Progress
Blue Company's income statement for the year ended December 31,2025, contained the following condensed information.
\table[[Service revenue,$847,000,],[Operating expenses (excluding depreciation),$629,000,],[Depreciation expense,60,000,],[Loss on sale of equipment,26,000,715,000],[Income before income taxes,,132,000],[Income tax expense,$1,000,],[Net income,$91,000,]]
Blue's balance sheet contained the following comparative data at December 31.
\table[[,2025,2024],[Accounts receivable,$35,000,$53,000
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