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Simone, Incorporated, had total assets of $ 4 3 0 , 0 0 0 and equity of $ 2 6 0 , 0 0 0

Simone, Incorporated, had total assets of $430,000 and equity of $260,000 at the beginning of the year. At the end of the year, the company had total assets of $470,000. During the year, the company sold no new equity. Net income for the year was $80,000 and dividends were $44,000.
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