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Changes in account balances of Gross Flowers during 2010 were as follows: Increase Assets $400,000 Liabilities 150,000 Capital stock 120,000 Additional paid-in capital 110,000 Assuming
- Changes in account balances of Gross Flowers during 2010 were as follows: Increase
Assets $400,000
Liabilities 150,000
Capital stock 120,000
Additional paid-in capital 110,000
Assuming there were no charges to retained earnings other than dividends of $20,000, the net income (loss) for 2010 was ______ (show calculations)
a. $(20,000).
- $(40,000).
- $20,000.
- $40,000.
- $60,000.
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