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H.M. retained some abilities to form new
Income Statement
A financial statement that shows a company's revenues and expenses over a specified period, culminating in net profit or loss.
Other Income
Any revenue other than revenue from sales. It appears in a separate section on the income statement. Examples: Rental Income and Storage Fees.
Merchandise Inventory
Items purchased for resale to customers in the ordinary course of business, representing a current asset on the balance sheet.
Sales Discount
Amount a customer is allowed to deduct from the bill total for paying a bill during the discount period.
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