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Jeffery Company has just completed operations for the year ended December 31, 2016. This is the second year of operations for the company. The following data have been assembled for the business. Prepare the income statement. Use a proper heading.
Burglarized
The act of illegally entering a building with intent to commit theft.
Policy Cover
The extent of protection provided by an insurance policy against specific risks or occurrences.
Theft
In criminal law, knowingly taking or obtaining control over the property of another without consent, using deceit, threats, or coercion.
Binder
An oral or a written memorandum of an agreement for insurance intended to provide temporary insurance coverage until the policy is formally accepted.
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