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What is schedule stability and why is it important in a lean system?
Net Income
The total earnings of a company after deducting all expenses from revenues, representing the profit.
Owner's Drawings
The amount of money taken out from the business by the owner(s) for personal use.
Income Statement
A financial statement that shows a company's revenues and expenses over a specified period, resulting in net profit or loss.
Debit Entries
Accounting entries that increase an asset or expense account, or decrease a liability or equity account.
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