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Financial Capital Maintenance The company had the following total asset and total liability balances at the beginning and the end of the year: Beginning Ending

Financial Capital Maintenance

The company had the following total asset and total liability balances at the beginning and the end of the year:

Beginning

Ending

Total assets

$400,000

$625,000

Total liabilities

230,000

280,000

During the year, the company received $100,000 in new investment funds contributed by the owners. Using the financial capital maintenance concept, determine the companys income for the year.

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