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As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of $929,027 and liabilities of $275,660. During Year
As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of $929,027 and liabilities of $275,660. During Year 2, stockholders invested an additional $28,162 and received $25,457 in dividends from the business. What is the amount of net income during Year 2, assuming that as of December 31, Year 2, assets were $989,949 and liabilities were $235,595? O a. $40,065 b. $60,922 c. $98,282 O d. $25,457
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