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Crane's Electronic Repair Shop started the year with total assets of $299000 and total liabilities of $199000. During the year, the business recorded $499000 in
Crane's Electronic Repair Shop started the year with total assets of $299000 and total liabilities of $199000. During the year, the business recorded $499000 in electronic repair revenues, $299000 in expenses, and Crane withdrew $49000. The net income reported by Crane's Electronic Repair Shop for the year was $249000.$149000.$200000.$49000
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