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James runs a retail shop. Calculate the net income or net loss in reference to the following transactions that occurred during the month of January....

Mr. James runs a retail shop. Calculate the net income or net loss in reference to the following transactions that occurred during the month of January. Solve this problem using an electronic spreadsheet.Sale of Goods $70,000Materials Used $30,000Wages Paid $10,000Other Expenses $5,000

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