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Assume that a merchandising company provided the following beginning and ending budgeted balance sheets for a forthcoming month: Beginning Balances Ending Balances Cash $ 3
Assume that a merchandising company provided the following beginning and ending budgeted balance sheets for a forthcoming month:
Beginning Balances Ending Balances
Cash $ $
Accounts receivable
Inventory
Buildings and equipment
Accumulated depreciation
Total assets $ $
Accounts payable $ $
Common stock
Retained earnings
Total liabilities and stockholders equity $ $
Assuming the company did not pay any dividends during the period, how much net income must be shown on the companys budgeted income statement?
Multiple Choice
$
$
$
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