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the following pre - closing accounts and balances were drawn from the records of Carolina Company on December 3 1 , Year 1 : Cash

the following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1:
Cash $3,000 Accounts receivable $1,350
Dividends 1,500 Common stock 1,975
Land 1,800 Revenue 1,800
Accounts payable 950 Expense 1,050
Retained earnings 3,975
What is the amount of net income that will be reported on the Year 1 income statement?
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