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The changes in account balances for Allen Inc. for 2016 are as follows: Assuming the only changes in retained earnings in 2016 were for net

The changes in account balances for Allen Inc. for 2016 are as follows: Assuming the only changes in retained earnings in 2016 were for net income and a $47,000 dividend, what was net income for 2016? $31,000. $20,000. $27,000. $67,000

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