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Suppose the account balances of the Chester Corporation at December 31, 2007 are : ..Increase Assets $133,500 Liabilities .40,500 Common Stock ....90,000 Additional Paid-In Capital
Suppose the account balances of the Chester Corporation at December 31, 2007 are : ..Increase Assets $133,500 Liabilities .40,500 Common Stock ....90,000 Additional Paid-In Capital .. ....9,000 Assume that there is NO beginning retained earnings. If dividends paid were $19,500, then the net income for 2007 should have been $6,000. $13,500 $19,500. $25.500
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