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Joe Fast started a mobile snack food service on January 2, 2006, investing
$15,000 cash deposited in a bank account in the name of "Fast Snacks."
He purchased a second-hand, fully equipped truck. Joe operated on the
cash basis of accounting, and at year's end, he asks you to help him find
his income or loss for the first year of operation. You have determined the
following:
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