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Lamont worries that he has unintentionally hurt another student's feelings. From this information alone, we can reasonably conclude that Lamont:
Retained Earnings
The portion of net income that is not distributed to shareholders but is kept by the company to be reinvested in its core business or to pay debt.
Year-end Balance Sheet
A financial statement that reports a company's assets, liabilities, and shareholders' equity at the final day of the financial year.
Gross Profit
The financial performance metric that subtracts the cost of goods sold from total sales revenue.
Net Sales
The amount of revenue generated by a company after deducting returns, allowances for damaged or missing goods, and any discounts allowed.
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