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At the end of its first year of operations, Lockerbie and Role Company hustota sets...

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Accounting

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At the end of its first year of operations, Lockerbie and Role Company hustota sets of $3,000,000 and total liabilities of $1.200,000. The owner originally invested $200,000 in the business, but has not made any further investments or taken any withdrawals What is the first year's profit for Lockerbie and Role Company Reese's company reported equity of 522,000 on its December 31, 2019 balance sheel. The following information is available for the year ended December 31, 2020 Revenues Expenses Liabilities $72.000 59,000 11.000 the Congo Demet 2020

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