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A new corporation ended its first year of operations with assets of $100,000, liabilities of $75,000, and contributed capital (common shares) of $10,000. What was

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A new corporation ended its first year of operations with assets of $100,000, liabilities of $75,000, and contributed capital (common shares) of $10,000. What was the corporation's profit for the year? a $15,000 575,000 565,000 $90,000 $25,000 0

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