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5 Check my work 4 The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $73,000. Total stockholders' equity increased
5 Check my work 4 The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $73,000. Total stockholders' equity increased by $42,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $10,500 cash from the issue of common stock. Deen Company paid a $8,500 cash dividend to the stockholders during Year 2. 10 points Required Determine the amount of net income or loss Deen reported on its Year 2 income statement. (Hint Remember that stock issues, net income, and dividends all change total stockholders' equity.) eBook Print References
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