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The following information was drawn from the accounting records of Wyckoff Company as of December 31 Year 2 before the temporary accounts had been closed.

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The following information was drawn from the accounting records of Wyckoff Company as of December 31 Year 2 before the temporary accounts had been closed. The Cash balance was $5,100, and Notes Payable amounted to $5,000. The company had revenues of $4.000 and expenses of $2.550. The company's Land account had a $4.500 balance Dividends amounted to $550. The balance of the Common Stock account was $600. Required a. Identity which accounts would be classified as permanent and which accounts would be classified as temporary b. Assuming that Wyckoff's beginning balance as of January 1 Year in the Retained Earnings account was $3,100, determine its balance after the temporary accounts were dosed at the end of Year 2 c. What amount of net income would Wyckoff Company report on its Year 2 income statement? 20 Complete this question by entering your answers in the tabs below. nega Red 1 and Identify which accounts would be classified as permanent and which accounts would be classified as temporary Classification Account Cash Nches Pante Revenues lovidonds Common stock Red E year to be a cut was to determine

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