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  3. these items are taken from the financial statement

These items are taken from the financial statements of Carla Vista Limited for the year...

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Accounting

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These items are taken from the financial statements of Carla Vista Limited for the year ended December 31, 2024: Equipment 38,400 Income tax expense 6,960 Long-term investments 24,000 Retained earnings, January 1 40,800 Dividends declared 4,200 Service revenue 231,700 Depreciation expense 6,000 Insurance expense 2,900 Salaries expense 174,700 Utilities expense 4,400 Additional information: 1. Carla Vista started the year with $30,000 of common shares and issued $24,000 more during the year. 2. Carla Vista must pay $42,100 of the mortgage payable next year in 2025 . Prepare a statement of income for the year. (Enter negative amounts using either a negative sign preceding the number eg. 45 or parentheseseg. (45).)

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