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Which of the figures should be included on income statement

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Reference no: EM132815036

Problem 1: If James' records show $70,000 in revenue, $34,000 in liabilities, $90,000 in assets and $19,000 in equity, which of the figures should be included on his income statement?

Option 1: $34,000
Option 2: $70,000
Option 3: $90,000
Option 4: $19,000

Reference no: EM132815036

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