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The following are changes in all account balances of Marigold Furniture during the current year, except for retained earnings. Increase (Decrease) Increase (Decrease) Cash 74,520
The following are changes in all account balances of Marigold Furniture during the current year, except for retained earnings. Increase (Decrease) Increase (Decrease) Cash 74,520 Accounts Payable (55,080 ) Accounts Receivable (net) 48,600 Bonds Payable 88,560 Inventory 137,160 Share Capital-Ordinary 149,040 Investments (50,760 ) Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of 25,920 which was paid in the current year. Net income
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