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65 The following information relates to the Gates Corporation: Net assets, end of year P650,000 Net assets, beginning of year 300,000 Additional investment by shareholders

65

The following information relates to the Gates Corporation:

Net assets, end of year

P650,000

Net assets, beginning of year

300,000

Additional investment by shareholders

100,000

Dividends paid

150,000

Other comprehensive income for the year

80,000

Profit for the year is

Group of answer choices

350,000

480,000

320,000

400,000

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