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Which of the following combinations results in a net loss reported on the income statement?
Total revenues of $70,000 and total expenses of $74,000.
Total revenues of $60,000 and total expenses of $52,000.
Total revenues of $80,000 and total expenses of $74,000.
Total revenues of $40,000 and total expenses of $31,000.
Total revenues of $20,000 and total expenses of $16,000.
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