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S ilk e n C o r p. re po r t e d n e t in c ome of $420,000 f or 2014.

Silken Corp. reported net income of $420,000 for 2014. Changes occurred in several balance sheet accounts as follows:

Equipment ................................. $35,000 increase

Accumulated depreciation .................. 56,000 increase

Note payable .............................. 42,000 increase

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