Shelly's assets include money in checking and saving accounts, investments in stocks and mutual funds, and personal property such as furniture, appliances, an automobile, a coin collection, and jewelry.
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The following information pertains to Guy's Gear Company: Sales $ 80,000 Expenses: Cost of Goods Sold $ 50,000 Depreciation Expense 6,000 Salaries and Wages Expense 12,000 68,000 Net Income $ 12,000 Accounts Receivable Decrease $ 4,000 Inventory
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