Solved: Realize the net income, For the year ending February 2, 2008, Gap Inc. had revenues of, Accounting Basics

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Realize the net income

Response to the following problem:

For the year ending February 2, 2008, Gap Inc. had revenues of $15,763 million and total expenses of $14,930 million. Did Gap Inc.

(a) Incur a net loss or

(b) Realize net income?

Make sure you use enough details to support your answer.

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Accounting Basics: Realize the net income

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Accounting Basics: Realize the net income

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