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On January 1, Year 1, Charlotte Curtis started Curtis Company as a sole proprietorship with an initial investment of $80,000. During Year 1, the business earned $60,000 in cash revenue and paid $45,000 in cash expenses. During Year 1, Ms. Curtis withdrew $7,000 for her personal use.Required:
Using the above information, prepare an income statement, a capital statement, and a balance sheet for the Curtis Company.
Destructive
Causing great and irreparable harm or damage either physically, emotionally, or environmentally.
Added Value Negotiating
A negotiation strategy focused on creating mutual benefits and win-win outcomes by adding value rather than simply haggling over existing variables.
Traditional Negotiating
Involves face-to-face discussions and conventional tactics to reach an agreement between parties.
Single Deal
An agreement or transaction that is completed as a one-off and not part of a series of transactions.
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