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. Case: (5 marks) On December 1, a company was started with a share capital of $30,000 cash in the business. Thefollowing are the assets

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. Case: (5 marks) On December 1, a company was started with a share capital of $30,000 cash in the business. Thefollowing are the assets and liabilities of the company on December 31, 2020, and the revenues and expenses for the month of December Cash 20,000 Account Receivable 10,000 Revenues 25,000 Equipment 40,000 Advertising Expenses 2,000 Account payable 10,000 Rent expenses 4,000 Note payable 20,000 Dividends 3,000 Salary expenses 6,000 Based on the above information fill in the blank . Net income =Revenues - Expenses = - . Retained Earnings = Net income - Dividends = . Total assets = . Total liabilities = . Equity = share capital + retained earnings =

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