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The image in Values List field appears as broken when viewed in a record.
This is due to the company_files folder is not placed in the Archer application folder which should be (C:\inetpub\wwwroot\Archer).
You will need to create a copy of the company_files folder and place it under the Archer folder in the following path: (C:\inetpub\wwwroot\Archer).
Note: This will not work if the client has enabled an HTTP redirect on the default website in IIS to the virtual directory.