Question
Retail Stores of Georgia experienced an increase in total assets of $14,000 during the current year. During the same time period, total liabilities increased $2,000.
Retail Stores of Georgia experienced an increase in total assets of $14,000 during the current year. During the same time period, total liabilities increased $2,000. Shareholders made no investments during the year and not dividends were paid. How much was Retail's net income?
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Managerial Accounting
Authors: James Jiambalvo
6th edition
9781119158226, 111915801X, 1119158222, 978-1119158011
