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Rushmore Company provided services for $43,500 cash during Year 1. Rushmore incurred $31,000 expenses on...

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Accounting

Rushmore Company provided services for $43,500 cash during Year 1. Rushmore incurred $31,000 expenses on account during year 1, and by the end of the year, $12,500 of that amount had been paid with cash. Assuming that these are the only accounting events that affected Rushmore during Year 1, which of the following statements are true?
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The amount of net income shown on the income statement is $18,500. The amount of net income shown on the income statement is $12,500 The amount of net loss shown on the income statement is $12,500 The amount of net cash flow from operating activities shown on the statement of cash flows is $25,000

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