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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 1,

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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