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Using the following worksheet for the Alcazar Service Co., please prepare an income statement. The data are for the year ended December 31, 2012.
Government Revenue
The income received by the government from various sources, including taxes, fees, fines, and the sale of goods and services.
Tariff
A tax imposed by a government on imported goods or services to protect domestic industries or to generate revenue.
Producer Surplus
The difference between what producers are willing to sell a good for and the price they actually receive.
Trade
The trade of goods, services, or both among two or more entities, either within a single economy or across different ones.
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