clever inc is a car manufacturer its 2011 income statement is as follows clever inc income statement for the year ended/

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Clever, Inc. Income Statement For the Year Ended
December 31, 2011
Sales revenue ………. $20,000
Less cost of goods sold …… 10,000
Gross margin ……… $10,000
Expenses ………… 8,000
Net income ………. $ 2,000