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Unformatted text preview: income statement. A 5._The company sold one of its warehouses at a loss. A 6._Settlement of litigation with federal government related to income taxes of three years ago. The company is continually involved in various adjustments with the federal government related to its taxes. C 7._A loss incurred from expropriation (the company owned resources in South America which were taken over by a dictator unsympathetic to American business). D 8._The company neglected to record its depreciation in the previous year. A 9._Discontinuance of all production in the United States. The manufacturing operations were relocated in Mexico. A 10._Loss on sale of investments. The company last sold some of its investments two years ago....
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This note was uploaded on 04/04/2010 for the course AC AC 312 taught by Professor Chun,m during the Spring '10 term at Southwestern.
- Spring '10