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Chemco Coatings Case Study Join now to read essay Chemco Coatings Case Study Question 1: Using the given income statement and balance sheet data, Ive generated a cash-based income statement for Chem-Co for 2005 below. Chem-Co Jennifer Haggerty CASH BASED INCOME STATEMENT $ 1,000,000 Cash Flow Impact Net sales Source Revenue Change in accounts receivable.