Accounting Homework (look below)

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Question 1:

Suppose you have a business selling caps to friends and classmates. This month you bought 12 caps at $5 each and sold them for $10 each. You also spent $30 on posters and flyers and paid 12% in taxes. Prepare your income statement.

All you have to do go through the problem and prepare an income statement for the question, PLEASE ONLY ORIGINAL WORK! and please answer the question in full!!

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