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The increases in account balances of XYZ during 2014 are presented below: Assets $456,000 Common Shares 240,000 Liabilities 148,000 Other Contributed Capital 24,000 Assuming the
The increases in account balances of XYZ during 2014 are presented below:
Assets
$456,000
Common Shares
240,000
Liabilities
148,000
Other Contributed Capital
24,000
Assuming the only debit to retained earnings was for a dividend of $52,000, net income
for 2014 was:
110)
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