The financial statement that reports the assets, liabilities, and stockholders' (owner's) equity at a specific date is the:
a. Balance Sheet
b. Income Statement
c. Statement of Cash Flows

Answers

Answer 1

Option a. Balance sheet is the correct answer. The financial statement that reports the assets, liabilities and stockholder's equity at a specific date is the balance sheet

Audits of public companies include the audit of financial statements and the auditors must follow the Public Company Accounting Oversight Board in applying their auditing procedures. During the audit of financial statements they will look at the balance sheet, income statement, statement of owner's equity, and notes to determine if the statements are prepared and not materially misstated.

The balance sheet consists of the total balances of a company's assets, liabilities, and stockholders' equity. Assets are future resources and benefits of a company that extend past the current period whereas liabilities are debts.

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Related Questions

Allison has a horse stall cleaning business that has been growing rapidly since she started it three years ago. She estimates the total number of horse stalls in her market to be 5000, owned by a total potential population of 1500. Currently, there are only two competitors in the market, Allison, who has 650 stalls that she cleans, and Sam's Hayfaring Maneger, that cleans 1,320 stalls. The remainder of the stalls are cleaned by their owners rather than by a service. Allison prices her cleaning services at $12 per stall per month and Sam charges $8 for the same service. Allison's sales are derived from 104 customers while Sam's are from 71 customers, meaning that Sam's customers have more stalls on a per capita basis. What is the market penetration rate based on potential customers

Answers

Answer:

the market penetration rate based on potential customers is 11.66%

Explanation:

The computation of the  market penetration rate based on potential customers is shown below

= Alison + sam

= (104 customers ÷ 1500)  + (71 customers ÷ 1500)

= 6.93 % + 4.73%

= 11.66%

hence, the market penetration rate based on potential customers is 11.66%

We simply added both the Alison and sam so that the market penetration rate could come

A customer overhears a telephone conversation between her close friend and the friend's spouse, where the close friend mentions to her husband (who is the president of a large bank) how worried she is that she will have to move to California if her husband is successful in the takeover attempt of CalTrust Bank. The customer calls her sales representative at the broker-dealer where she maintains an account and places a market order to buy 1,000 shares of CalTrust Bank, which is immediately filled at $32.50 and then is reported by the agent to the customer. Who has violated the insider trading rules?

A The close friend
B The customer
C The agent
D All of the above

Answers

Answer b

Explanation they heard something they shouldn’t have and made a move based on it which is highly illegal

The average life expectancy of which type of economy is generally very high?
A.
economies with a high HDI and GDP
B.
economies with a low HDI and GDP
C.
economies with a high GDP
D.
economies with a low GDP
E.
economies with a high PPP only

Answers

Answer:

c

Explanation:

im not 100% sure but i think c is the one

There are only two securities in which you can invest: A risky stock and thee U.S. Treasury bills. The risky stock has a beta of 1.68. You would like to combine the risky stock with U.S. Treasury bills in such a way that the risk level of the portfolio is equivalent to the risk level of the overall market. What percentage of the portfolio should be invested in the risky stock?

Answers

In this question, we are required to find the percentage of the portfolio that should be invested in the risky stock to combine with U.S. Treasury bills in such a way that the risk level of the portfolio is equivalent to the risk level of the overall market. Given data Beta of risky stock, β = 1.68Let's assume x be the percentage invested in risky stock, then (1 - x) would be the percentage invested in U.S. Treasury bills.

The portfolio beta will be equal to the weighted average of the betas of the two securities. Therefore,   Beta of Portfolio = (β of risky stock * % invested in risky stock) + (β of Treasury bill * % invested in Treasury bill)1.0 = 1.68x + (0)(1 - x)1 = 1.68x1/1.68 = x0.5952 = x    Therefore, the percentage of the portfolio invested in the risky stock is approximately 59.52%.Hence, the percentage of the portfolio that should be invested in the risky stock to combine with U.S. Treasury bills in such a way that the risk level of the portfolio is equivalent to the risk level of the overall market is 59.52%.

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Stanley Inc. must purchase $6,000,000 worth of service equipment and is weighing the merits of leasing the equipment or purchasing. The company has a zero tax rate due to tax loss carry-forwards, and is considering a 5-year, bank loan to finance the equipment. The loan has an interest rate of 10% and would be amortized over 5 years, with 5 end-of-year payments. Stanley can also lease the equipment for 5 end-of-year payments of $1,790,000 each. How much larger or smaller is the bank loan payment than the lease payment? Note: Subtract the loan payment from the lease payment.

a. $177,169

b. $196,854

c. $207,215

d. $217,576

e. $228,455

Answers

The amount larger or smaller is the bank loan payment than the lease payment is: c. $207,215.

Bank loan payment

In order tom determine the bank loan payment we would be using financial calculator find the PMT  by inputting the below data

N= Number of years = 5

1/Y= Interest rate= 10%

PV=Present value= -$6,000,000

FV=Face value = 0

PMT=Payment=?

Hence:

PMT=$1,582,784.88

Now let determine the bank loan payment

Bank loan payment=$1,790,000 -$1,582,784.88

Bank loan payment=$207,215

Inconclusion the amount larger or smaller is the bank loan payment than the lease payment is: c. $207,215.

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how do you feel about testing?

Answers

Answer:

Well I feel like test give me some much anxiety. I get very nervous and worried even if I had studied for the test. Test also sometimes make me feel shaky lol. But overall I feel like test just stresses students out and it’s not really good

Explanation:
Well for most tests it all depends on if the student feels confident with the subject they are taking the test on. I personally think I would get anxiety and other kids too if they are confused with the subject.

two farmers agree that pigs are worth $\$300$ and that goats are worth $\$210$. when one farmer owes the other money, he pays the debt in pigs or goats, with ``change'' received in the form of goats or pigs as necessary. (for example, a $\$390$ debt could be paid with two pigs, with one goat received in change.) what is the amount of the smallest positive debt that can be resolved in this way?

Answers

Pigs are valued at $300, and goats are valued at $210, according to two farmers. A farmer will trade pigs or goats for money owed to him by another farmer.

Do you trust farmers?

The cultivation of living things for food or raw resources is the work of an agriculturalist. Those that cultivate various field crops, orchards, vineyards, poultry, or other livestock are often referred to by this moniker. In addition to working as a labourer on property that is owned by others, a farmer may also be the land's owner. Despite differences in degrees and ranks, the level of faith in farmers can be shown in every survey. Another piece of proof for this was provided by a recent survey conducted by the American Farm Bureau, which showed that 88% of Americans have faith in farmers.

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Click this link to view O*NET's Tasks section for Actors.
Note that common tasks are listed toward the top, and less common tasks are listed toward the bottom. According to
O*NET, what are common tasks performed by Actors? Check all that apply.
creating artwork for use in stage sets
collaborating with other actors
working closely with directors, other actors, and playwrights to find the interpretation suited to the role
studying and rehearsing roles from scripts
learning about characters in scripts and their relationships to each other
teaching college classes and training other people how to become actors

Answers

Answer: B C D E

Explanation:

Did the assignment

To find the interpretation suited to the role, studying and rehearsing roles from scripts, learning about characters in scripts and their relationships to each other and teaching college classes and training other people how to become actors are common tasks performed by Actors. Hence, options B, C, D and E are correct.

Who is a director of a movie?

The directors are the movie's creative leaders. They uphold the artistic vision throughout pre-production and final editing. They are employed by the executive producer or producer, who is ultimately in control of a production.

A film director's responsibilities include reading and editing scripts, overseeing the cast and crew, and putting the final product together. The actors and other crew members will work with you to ensure that the movie ultimately reflects the aesthetic vision for the finished result.

Thus, options B, C, D and E are correct.

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Elena is a sales manager who encourages her employees through motivation to be committed to and a part of the shared vision of the organization. Elena is demonstrating which factor of transformational leadership

Answers

The factor of transformational leadership that Elena is demonstrating here is the inspirational motivation.

What is  transformational leadership?

This is the leadership approach that is used to effect changes in the life of people and also the society in general.

This is the form of leadership that Elena is said to engage in by motivating the workers to be a part of the vision of the business.

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Tickets to a fundraiser are $14 if purchased ahead of time and $25 if purchased at the door. The total amount raised from all ticket sales was $625. If eleven tickets were purchased at the door, how many tickets were purchased ahead of time?.

Answers

25 tickets

($14)(25)=$350
($25)(11)=$275
$350+$275= $625

Palmona Company establishes a $310 petty cash fund on January 1. On January 8, the fund shows $205 in cash along with receipts for
the following expenditures: postage, $43; transportation-in, $14; delivery expenses, $16; and miscellaneous expenses, $32. Palmona
uses the perpetual system in accounting for merchandise inventory.
1. Prepare the entry to establish the fund on January 1.
2. Prepare the entry to reimburse the fund on January 8 under two separate situations:
a. To reimburse the fund.
b. To reimburse the fund and increase it to $360. Hint. Make two entries.

Answers

The entry to establish the fund on January 1 is: Debit Petty Cash Fund 310, Credit Cash 310

How to prepare journal entry?

1. Entry to establish the fund on January 1:

Debit Petty Cash Fund 310

Credit Cash 310

2a. Entry to reimburse the fund on January 8:

Debit Postage Expense 43

Debit Transportation-In Expense 14

Debit Delivery Expense 16

Debit Miscellaneous Expense 32

Credit Cash 105

2b.8-Jan

Debit Petty Cash $255

($360 - $105)  

Credit Cash  $255

(Being increment of petty cash recorded)  

Therefore the entry is Debit Petty Cash Fund 310, Credit Cash 310.

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Are you surprised a couple with a joint income of $200,000 is priced out of the housing market well above average in the US approximately 6% of the population? Explain!

At least three sentences to be put as the brainliest. Due tomorrow!

Answers

A couple with a $200,000 joint income is priced out of the housing market It's not unexpected, especially in locations where the cost of living is high and demand for property is high.

The given question is an opinion based on the answer written in a generalized manner keeping in mind the income and housing market of the United States.

The high cost of housing can have serious consequences for people, families, and communities. since people with higher earnings may be able to buy houses,  It may result in growing economic inequality.

The high cost of housing in the United States is a complex issue driven by a variety of factors, including economic trends, government regulations, and social attitudes.

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The column headed by a check mark in a checkbook register is provided so you can make a note of your checks that have bounced.

T or F

Answers

f........................,......

Walmart can achieve a _____ using its relationships with suppliers to create an advantage that, ultimately, allows it to give customers low prices and good customer service.

Answers

Answer:

cost leadership/competitive advantage

Approximately 2.5% of those who adopt a product do so almost immediately after the product is launched. These people are called ____________.InnovatorsEarly adopterEarly majorityCompatibility

Answers

Approximately 2.5% of those who adopt a product do so almost immediately after the product is launched. These people are called a) Innovators.

The initial users of a new product are innovators. They naturally take risks and are intrigued by the potential of novel concepts and fresh approaches.

Innovations are typically more expensive than other types of adopters since items are typically more expensive when they are first released (although certain products do defy this pattern) (though in some cases they may adopt products in a very narrow field and devote much of their financial resources to this adoption).

Innovators frequently have a connection to the scientific field where a new product originates, and they frequently network with other innovators in the product categories they choose.

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Make a business plan with a :

Detail of Sale.
Name
Cost price of products
Selling price
Expected Profit
Target market
Capital
1How much is required??
2From where are you going to get it from
Marketing strategy
Products for sale​

Answers

gggggggggggggggggggggggggggggggggggggggggggggggggggggggg

What types of planning can be done to improve a nation’s economy?
A nation can undergo ____ planning or ___ planning in order to improve its economy.

Answers

Answer:

A nation can undergo long-term planning or constructive planning in order to improve its economy. Long-term planning involves setting goals and implementing policies that will have an impact over a period of several years. This type of planning may involve investments in education, infrastructure, and research and development, among other areas. Constructive planning involves implementing policies that encourage economic growth and development, such as reducing barriers to trade, promoting entrepreneurship and innovation, and investing in key industries. These types of planning can help a nation to create jobs, increase productivity, and improve living standards for its citizens. THANK YOU

Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).

Cain Company reports net cash provided by operating activities of $35,000. It also reports the following

Answers

It can be seen from the solutions given that Cain's net income is $24,000.

Here is the solution:

Net income = Net cash provided by operating activities - Adjustments

= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000

= $24,000

Therefore, Cain's net income is $24,000.

Here is a breakdown of the adjustments:

To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.

A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.

The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.

A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.

A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.

A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.

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In this activity, you will demonstrate your understanding of visual merchandising by creating a drawing (on paper or through a computer program) of a visual merchandising display. You may choose any type of product to market, except for clothing and accessories.To begin this activity, research effective visual merchandising strategies. The following links can help you get started:
Next, draw the product itself and illustrate how you plan to display it in a retail store. Here are a few guidelines to follow:
Feature the product itself in such a way that it is clear which product or products are being marketed.
Keep your target market in mind when choosing which visual merchandising techniques to use in your illustration.
Use a minimum of three visual merchandising techniques discussed in the online articles you’ve just read.
Now, write an explanation of your visual merchandising plan and why consumers will find it appealing. Be sure to include the following:
Identify the product you are selling and your target market.
Explain which visual merchandising techniques you’ve used in your drawing. Use at least two techniques.
Defend each visual merchandising strategy you used, and explain how it contributes to the intended effect of getting more consumers to buy more products.
Explain why the visual merchandising techniques you chose are well suited for the particular product you are selling and your target market.
Finally, take a picture of your drawing, and submit it along with your paragraph.

Answers

Visual merchandising is known ton be a marketing method or process that is said to make use of elements such as color, lighting etc. to bring customer attention to their business or product.

The product i will use this visual merchandising techniques for is hair growth oil for ladies who are my target market.

The  visual merchandising techniques i will use is tell a Story or a customer's testimony about the miracle of using the product and also I will use Product Placement method to attract customers.

Who is a visual merchandiser?

The work of a visual merchandiser is to help in product promotion as well as hype retail brands and services in-store/online etc.

The use of visual merchandising methods such as telling the product miracle Story or the use Product Placement method will help one to have a lot of customers.

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If a company moves ownership of activities closer to the end customer, such as providing after-sales support, it is engaging in ______ vertical integration. Multiple choice question. forward full scaled backward

Answers

If a company moves ownership of activities closer to the end customer, such as providing after-sales support, it is engaging in forward vertical integration.

What is Forward vertical integration?

Forward vertical integration is a business strategy where a company acquires one or more of its customer organizations.

Vertical integration is a business strategy that involves a company acquiring or owning different stages of the production process, from the raw materials to the final product. In other words, it is the consolidation of all activities involved in the production and distribution of a product under one umbrella.

Backward integration occurs when a company takes ownership of its suppliers, such as a manufacturer acquiring a raw materials producer. Forward integration, on the other hand, occurs when a company takes ownership of its distributors or retailers. Vertical integration can provide several benefits to a company, such as increased control over the production process, reduced costs, improved efficiency, and increased market power.

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Which two security regulations does the pci enforce with regard to electronic banking?
Choices
A. Banks must maintain a secure network
B. Banks must allow customers to chose the level of security they want
C. Banks must compensate customers for money lost due to stolen cards
D. Banks must have information security policy

Answers

Answer:

A. Banks must maintain a secure network D. Banks must have information security policy

Explanation:

The Payment Card Industry Data Security Standards (PCI DSS) are there to make sure that companies dealing with payment cards for customers protect these customers by having a secure payment environment to prevent customer money being at risk.

First and foremost the companies should have a secure network for processing card payments and data which means no expense should be spared in maintaining this. Companies must also have an information security policy that employees must follow when dealing with customer information.

McGlone Corporation had a 1/1/10 balance in the Allowance for Doubtful Accounts of $15,000. During 2010, it wrote off $10,800 of accounts and collected $3,150 on accounts previously written off. The balance in Accounts Receivable was $300,000 at 1/1 and $360,000 at 12/31. At 12/31/10, McGlone estimates that 5% of accounts receivable will prove to be uncollectible. What should McGlone report as its Allowance for Doubtful Accounts at 12/31/10

Answers

Answer:

18,400

Explanation:

A new pizza restaurant is opening in town. The owners of this restaurant decide to place an advertisement in the town newspaper announcing the date of their big opening. The owners of the restaurant are using ________. A) mass communications B) a push strategy C) word-of-mouth communications D) public relations

Answers

Answer:

Answer is A

Explanation:

They are trying to get the word out to many people so their business grows. So they are using mass communication to do so.

Explain in 250 words or less.
In the US, financial statements are not adjusted for inflation and report only historical cost amounts. As inflation is now north of 8%, it is important to consider the impact of inflation on financial reporting and investing. To illustrate, assume the cost of a business’s inventory is increasing at a rate of 8% a year (8% inflation). In this situation, cost of goods sold reported on the income statement (based off historical cost) will be less than the inventory’s replacement cost. Thus, in periods of inflation, using historical cost increases net income to a level that is greater than the true economic profit. This illusory profit happens with any expenses that are based off historical cost. One of the primary goals of the income statement is to aid investors in forecasting future income. In periods of inflation, using historical cost makes this difficult.
1. Do you think financial statements should be adjusted for inflation? Why or why not?

Answers

Adjusting financial statements for inflation is important to provide a more accurate and relevant representation of an organization's financial position and performance. It helps address the limitations of historical cost accounting, enables investors to make better forecasts, and facilitates meaningful comparisons over time and across companies.

Adjusting financial statements for inflation helps to address the shortcomings of historical cost accounting in periods of rising prices. Inflation erodes the purchasing power of money over time, and using historical cost amounts without adjusting for inflation can lead to misleading financial reporting.

When financial statements are not adjusted for inflation, the reported net income can be higher than the true economic profit. In the given example, the cost of goods sold reported on the income statement, based on historical cost, would be lower than the replacement cost of inventory. This discrepancy artificially inflates net income and creates an illusory profit.

By adjusting financial statements for inflation, the impact of rising prices on the values of assets, liabilities, and income can be accurately reflected. This provides a more meaningful representation of an organization's financial performance and helps investors make informed decisions. Adjusting for inflation allows for a better assessment of the company's ability to generate sustainable profits and cash flows in real terms.

Furthermore, adjusting financial statements for inflation aids in comparing financial performance across different periods and companies. It provides a more accurate basis for evaluating financial ratios, analyzing trends, and assessing the true economic value of an organization's assets and liabilities.

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Gidgits Galore has been busy during this lesson continuing its expansion plans throughout the United States. After all, everyone must have a gidgit, the "must-have" gadget! Gidgits Galore has opened up stores in ten new states, hired hundreds of new employees, built two additional factories, and started an advertising campaign that has caught the US by storm! Its expansion has been featured in news magazines across the country. But Gidgits Galore has encountered a few problems and needs some advice.


Should Gidgits Galore entice much sought-after employees with generous benefits?
no
yes

Answers

Answer:

Yes

Explanation:

Edge 2021

Answer:

YES   edge 2023

Explanation:

Gidgits Galore has been busy during this lesson continuing its expansion plans throughout the United

______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???

Answers

Answer : Monopolistic competition

Answer:

Monopolistic Competition

Explanation:

In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.

ABC Company had Net Sales Revenue of $90,000, Cost of Goods Sold totaled $52,000, and Operating Expenses of $22,000. What was ABC's Gross Profit percentage for this period? Type your answer in percentage form (leaving off the sign) and round to two decimal places, including zeros if needed.

Answers

ABC Company's Gross Profit percentage for the period is 42.22%.

To calculate ABC Company's Gross Profit percentage, we need to use the formula:

Gross Profit percentage = (Gross Profit / Net Sales Revenue) * 100

First, we calculate the Gross Profit:

Gross Profit = Net Sales Revenue - Cost of Goods Sold

Gross Profit = $90,000 - $52,000

Gross Profit = $38,000

Now, we can calculate the Gross Profit percentage:

Gross Profit percentage = ($38,000 / $90,000) * 100

Gross Profit percentage = 42.22%

Therefore, ABC Company's Gross Profit percentage for this period is 42.22%.

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According to efficiency-wage theories, firms benefit by paying higher-than-equilibrium wages because worker _____ increases.

Answers

According to efficiency-wage theories, firms benefit by paying higher-than-equilibrium wages because worker productivity increases.

This increase in productivity can be attributed to a number of factors, such as increased motivation and morale, reduced turnover rates, and improved quality of work. By paying higher wages, firms are able to attract and retain higher-quality workers, who in turn are more productive and contribute more to the firm's overall success. This theory suggests that firms can actually save money in the long run by paying higher wages, as the benefits of increased productivity and reduced turnover outweigh the costs of higher wages. Ultimately, efficiency-wage theories provide a compelling argument for why firms should consider paying higher wages in order to achieve better business outcomes.

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Addison Company experienced an accounting event that affected its financial statements as indicated below: Assets Stockholders' = Liabilities + Equity Revenue + Expense Net Income Stat + + +Which of the following accounting events could have caused these effects on Addison's financial statements? Multiple Choice O Collected cash from accounts receivableO Earned revenue on accountO Collected cash from accounts receivable O Earned revenue on account O Issued common stock O Earned cash revenue

Answers

The following accounting event that the Addison Company encountered had an impact on its financial statements: Assets Stockholders' = Revenue + Expense Net Income Statue + + +, The right response is earned income on account.

Explain Which accounting event appears on Addison's financial accounts as a result of earned revenue on account?

The following accounting event appears on Addison's financial statements as a result of earned revenue on account.

Accounting is a term used to refer to the measurement, processing, and verbal transmission of economic and non-economic data about financial institutions such as corporations and agencies. Accounting, also known as the "language of business," measures the results of an organization's financial activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators.

Professionals in accounting include accountants. The terms accounting and financial reporting are frequently used synonymously. Tax accounting, fee accounting, financial accounting, and control accounting are only a few examples of the several categories into which accounting can be split.

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which 2 features in quickbooks online can help a professional services company track profitability by client?

Answers

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