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Zoe Dental Implements has gross property, plant and equipment totaling $1

Finance

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Zoe Dental Implements has gross property, plant and equipment totaling $1.4 million, depreciation expense this year of $200,000, and accumulated depreciation last year of $550,000. What is Zoe's net property, plant and equipment?
Select one:
a. $550,000
b. $650,000
c. $1.2 million
d. $1.4 million

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A(n) ______ provides a financial summary of a firm's operating results during a specified period.
Select one:
a. statement of cash flows
b. income statement
c. statement of retained earnings
d. balance sheet