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The following information relates to Peter Company (in thousands): Additional investment by Mr. Peter - 15 Sales revenue - 150 Net assets, beginning of year

The following information relates to Peter Company (in thousands):

Additional investment by Mr. Peter - 15 Sales revenue - 150 Net assets, beginning of year 1 - 100 Distribution to Mr. Peter - 110 Cost of goods sold - 125 Net assets, end of year 1, - 180

Required:

Compute net income, using the capital maintenance approach

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