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A business had the following amounts of assets and liabilities at the beginning and end of a recent year: Assets Liabilities Beginning of the year

A business had the following amounts of assets and liabilities at the beginning and end of a recent year: Assets Liabilities Beginning of the year $ 90,000 $ 40,000 End of the year 130,000 61,000 Determine the profit earned or net loss incurred by the business during the year under each of the following unrelated assumptions: a. The owner made no additional investments in the business and withdrew no

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