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The beginning capital balance shown on a statement of owner's equity is $70,000 Net income for the period is $20,000. The owner withdrew $28,000 cash

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The beginning capital balance shown on a statement of owner's equity is $70,000 Net income for the period is $20,000. The owner withdrew $28,000 cash from the business and made no additional investments during the period. The owner's capital balance at the end of the period is Multiple Choice 0 $90,000 $78,00 $118,000 O 62.000

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