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As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of $920,296 and liabilities of $267,734. During
As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of $920,296 and liabilities of $267,734. During Year 2, stockholders invested an additional $28,593 and received $25,321 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 $980,960 and liabilities were $238,401? Oa. $25,321 Ob. $29,333 Oc. $86,725 Od. $60,664 Previous Next
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