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QUESTION 9 A company becomes incorporated on January 1, 2018. At that time the two owners each invest $5,000 in exchange for common stock. For
QUESTION 9 A company becomes incorporated on January 1, 2018. At that time the two owners each invest $5,000 in exchange for common stock. For the first 2 years of business the following information at year end: 2018 2019 Assets $ 200,000 $250.000 Liabilities 150,000 160,000 Dividends for the year 1,000 2,000 Additionally, during 2019 the owners each invested $10,000 in exchange for common stock. Determine the company's net income for the year ending December 31, 2019: O A $27,000 OB. $22,000 OC. $32,000 OD. $24,000 OE. $23,000
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