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Use the rule for order of operations to simplify the expression as much as possible.
Statement of Comprehensive Income
A financial statement that shows all changes in equity during a period, including items not reflected in the net income.
Income Statement
A financial statement that reports a company's financial performance over a specific accounting period, detailing revenue and expenses.
Prior-Period Adjustments
Corrections of errors in previously issued financial statements for periods prior to the issuance of the current financial statements.
Net Income
The net income of a business, which is the amount remaining from total revenue after deducting all costs and taxes.
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