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3. If total assets were $10,000 and total liabilities were $6,000 at the beginning of the year, and if net income for the year was
3. If total assets were $10,000 and total liabilities were $6,000 at the beginning of the year, and if net income for the year was $2,000, what is total owners' equity at the end of the year? a. $4,000. b. $5,000. c. $6,000. d. $7,000
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Financial & Managerial Accounting
Authors: Jan Williams
16th Edition
78111048, 978-0078111044
