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QUESTION 21 and At December 31, Year 1, Lord of the Fries, Inc.'s assets were $70,000 and liabilities were $40,000. At December 31. Year 2,

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QUESTION 21 and At December 31, Year 1, Lord of the Fries, Inc.'s assets were $70,000 and liabilities were $40,000. At December 31. Year 2, its assets are $140,000 and liabilities are $60,000. During the year, it did not issue now stock and did not declare or pay dividendo. Calculate not income for Year 2

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