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During Year 3, a company's assets increase by $56,000 and its liabilities increase by $38,000. If no dividends were paid and there were no changes
During Year 3, a company's assets increase by $56,000 and its liabilities increase by $38,000. If no dividends were paid and there were no changes in the amount of common stock issued during the year, net income for Year 3 was:
$56,000.
$18,000.
$94,000.
$38,000.
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