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Calculate the net income earned during the year. Assume that the change to stockholder's equity results only from net income earned during the year. Balance

Calculate the net income earned during the year. Assume that the change to stockholder's equity results only from net income earned during the year.

Balance Jan. 1, 2019 Asset: $50,000 Liabilities: $40,000

Balance Dec 31, 2019 Assets: $35,000 Liabilities: $20,000

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