Draw the Major Product of the Following Reaction

question 52

Essay

Draw the major product of the following reaction:

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Definitions:

Net Income

The company's net income, which is the remainder after deducting all expenses, taxes, and costs from the gross revenue.

Drawings

The act of the business owner taking out money or assets from the enterprise for private use.

Balance Sheet

A record that consolidates information about a company's assets, financial obligations, and the equity portion attributable to shareholders at a distinct time.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period of time, resulting in net profit or loss.