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11). As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of $900,117 and liabilities of $270,823. During
11).
As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of $900,117 and liabilities of $270,823. During Year 2, stockholders invested an additional $28,680 and received $25,803 in dividends from the business. What is the amount of net income during Year 2, assuming that as of December 31, Year 2, assets were $980,893 and liabilities were $231,528? Oa. $25,803 Ob. $39,295 Oc. $117,194 Od. $80,776Step by Step Solution
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