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If beginning capital was $25,000, ending capital is $37,000, and the owner's withdrawals were $23,000, the amount of net income or net loss for the

If beginning capital was $25,000, ending capital is $37,000, and the owner's withdrawals were $23,000, the amount of net income or net loss for the period was:

  1. net loss of $35,000
  2. net income of $35,000
  3. net income of $14,000
  4. net loss of $14,000
  5. none of the options listed

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