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Stockholders received $ 2 0 , 0 0 0 in dividends in the current year. If at year end Total Assets = $ 2 ,

Stockholders received $20,000 in dividends in the current year. If at year end Total Assets = $2,500,000, Total Liabilities = $900,000, Contributed Capital = $1,400,000, and Retained Earnings at the beginning of the year = $100,000, what was the net income for the current year?

 


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