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Question: The following items and amounts were taken from Lonyear Inc.'s 2017 income statement and balance sheet.

Instructions: (a) In each, case, identify on the blank line whether the item is an asset (A), liability (L), stockholders' equity (SE), revenue (R), or expense (E) item.

(b) Prepare an income statement for Lonyear Inc. for the year ended December 31, 2017.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92651187

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