Classify the following accounts as assets (A),liabilities (L),or shareholders' equity (SE)and whether they are current (C),non-current (NC),or not applicable (N/A).
Definitions:
Net Income
The final earnings of a corporation once all costs, taxes, and expenses are subtracted from gross revenue.
Retained Earnings
Retained Earnings are the portion of a company's profits that are not distributed as dividends to shareholders but are instead reinvested in the business.
Loss Accounts
Financial accounts within a company's books that represent expenses exceeding incomes, leading to a net loss.
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