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Slow, Inc., reported the following asset and liability balances at the ends of 20X1 and 20X2: 20X1 Total Assets Total Liabilities Cash $80,000 50,000 22.000

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Slow, Inc., reported the following asset and liability balances at the ends of 20X1 and 20X2: 20X1 Total Assets Total Liabilities Cash $80,000 50,000 22.000 20x2 $110,000 40,000 32.000 During 20x2, cash dividends of $5,000 were declared and paid. Additional shares were issued for $15,000. What was the profit (or loss) for 20x2? $35.000 $40,000 $30,000 O $45,000

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