Question: =+August 31, 2010 Sales commissions. . . . . . . . . . . . . . . . . . . . .

=+August 31, 2010 Sales commissions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $467,100 Expenses:

Office salaries expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $291,600 Rent expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99,000 Automobile expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,500 Miscellaneous expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,200 Supplies expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,700 Total expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 423,000 Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $134,100 EX 1-25 Financial statements

✔ Correct amount of total assets is

$176,400 i. Marketable securities

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