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At the end of its first month of operations, Michael's Consulting Services, Inc. reported net income of $30,100. They also had account balances of: Cash,
At the end of its first month of operations, Michael's Consulting Services, Inc. reported net income of $30,100. They also had account balances of: Cash, $21,400; Office Supplies, $2,850 and Accounts Receivable $11,700. The stockholders' total investment for this first month was $5,850. |
Calculate the ending balance in stockholders' equity to be reported on the Balance Sheet. |
$24,250
$8,700
$30,100
$35,950
$5,850
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