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Borunda Corporation has provided the following data for its two most recent years of operation:
Required:
a.Assume the company uses absorption costing. Prepare an income statement for each year.
b. Assume the company uses variable costing. Prepare an income statement for each year.
c. Prepare a report in good form reconciling the variable costing and absorption costing net incomes.
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Individuals elected to represent their constituents in the United States Congress, consisting of the Senate and the House of Representatives.
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