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HORNGREN'S ACCOUNTING - Eleventh Edition E1-23 Requirements 1. Compute Peaceful River Spa's net income for 2016. 2. Did Peaceful River Spa's owner's equity increase or

HORNGREN'S ACCOUNTING - Eleventh Edition E1-23 Requirements 1. Compute Peaceful River Spa's net income for 2016. 2. Did Peaceful River Spa's owner's equity increase or decrease during 2016? By how much? Solution: Requirement 1 Requirement 2

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