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Armour Inc's balance sheet reported assets of $12,000, liabilities of $5,000 and common stock of $2,000 as of December 31, 2010. If Retained Earnings on

Armour Inc's balance sheet reported assets of $12,000, liabilities of $5,000 and common stock of $2,000 as of December 31, 2010. If Retained Earnings on the December 31, 2011 balance sheet is $8,000 and Vance paid a $2,000 dividend during 2011, then the amount of net income for 2011 was which of the following? a. $5,000 b. $10,000 c. $3,000 d. None of these

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