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a, calculate net income for the year ended December 31, 2016 b, determine the retained earnings balance as at the end of the year. c,

image text in transcribed a, calculate net income for the year ended December 31, 2016

b, determine the retained earnings balance as at the end of the year.

c, prepare a classified statement of financial position as at December 31, 2016. the note payable is due in 6 months.

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