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You are investigating possible hidden income in a divorce

Question: You are investigating possible hidden income in a divorce dispute involving an automobile repair shop with five bays. There are five mechanics, charging approximately $60 per hour for 7 hours per day. Assume 315 days worked with each person's wage of $30 per hour for 8 hours. Compute gross profit per year. If the owner reports $42,500 of gross income, what is your opinion?

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Accounting Basics: You are investigating possible hidden income in a divorce

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