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Business, 30.03.2020 19:08 morgan4411

The Graves Corporation was incorporated in Year 1 and incurred a net operating loss of $35,000. The company’s operating income in Year 2 was $47,000. Because of a downturn in the local economy, the company suffers a net operating loss of $21,000 in Year 3. What is the treatment of the Year 3 loss?

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The Graves Corporation was incorporated in Year 1 and incurred a net operating loss of $35,000. The...
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