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Takenson Corp. Takenson Corp. is a merchandising company that uses the periodic inventory system. Selected account balances are listed below: Sales Purchases Inventory (beginning) Inventory
Takenson Corp. Takenson Corp. is a merchandising company that uses the periodic inventory system. Selected account balances are listed below: Sales Purchases Inventory (beginning) Inventory (ending) Operating expenses Income tax expense Retained earnings (beginning) Dividends $500,000 225,000 16,000 30,000 148,000 10,000 53,000 15,000 Refer to the information for Takenson Corp. Calculate net income. Ca. 5116,000 Ob. $289,000 c. $131,000 Od. $141,000
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