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At the end of its accounting period, Dec 31,Year 1, Great Plains Company has assests of $940000 and liabilities of $300000. During Year 2, stockholders
At the end of its accounting period, Dec 31,Year 1, Great Plains Company has assests of $940000 and liabilities of $300000. During Year 2, stockholders invested an additional $73000 and received $33000 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 $995000 and liabilities were $270000? 1.$45000 2.$50000 3.106000 4.370000
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