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The changes in account balances for Elder Company for 2021 are as follows. Assets Common stock Liabilities Paid-in capital-excess of par $488,000 debit 248,000 credit

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The changes in account balances for Elder Company for 2021 are as follows. Assets Common stock Liabilities Paid-in capital-excess of par $488,000 debit 248,000 credit 155,000 credit 28,000 credit Assuming the only changes in retained earnings in 2021 were for net income and a $68.000 dividend, what was net income for 2021? Multiple Choice $130.000 $85.000 $57.000 $125.000

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