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At the end of its first year of operations, Shapiro's Consulting Services reported net income of $28,350. They also had account balances of: Cash,
At the end of its first year of operations, Shapiro's Consulting Services reported net income of $28,350. They also had account balances of: Cash, $17,050 Office Supplies, $3,200, Equipment, $24,600 and Accounts Receivable, $8,000. The owner's total investment for this first year was $16,800 and the owner withdrew $2.210 for personal use. Calculate the ending balance to be reported on the Statement of Owner's Equity in the Owner's Capital account. Multiple Choice $62.200 $28,350 $45,050
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