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OldIdea Inc has the following data for January 2020. Finished-good account: Beginning inventory: $500 Ending inventory: $400 Cost of goods sold: $1,500 Sales revenue: $5,000

OldIdea Inc has the following data for January 2020. Finished-good account: Beginning inventory: $500 Ending inventory: $400 Cost of goods sold: $1,500 Sales revenue: $5,000 Selling and Administrative cost: $2,000 What is the net income of the company for January?

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