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Question(s) / Instruction(s):

Selected year-end financial statements of Cadet Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2008, was inventory, $56,900; total assets, $219,400; common stock, $85,000; and retained earnings, $52,348.)

CADET CORPORATION

Income Statement

For Year Ended December 31, 2009

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