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Following is the summary of the balance sheet of AWR Company: Total Assets Total Liabilities Beginning of the year $250,000 $180,000 End of the year
Following is the summary of the balance sheet of AWR Company: Total Assets Total Liabilities Beginning of the year $250,000 $180,000 End of the year $500,000 $370,000 Determine the net income (or loss) for the year, assuming no common stock was issued and no dividends were paid during the year? $70,000 $200,000 $60,000
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