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. Tom started his business by issuing $2,000 of common stock on January 1, 2011. Tom performed $8,000 of service on account in 2011, and
. Tom started his business by issuing $2,000 of common stock on January 1, 2011. Tom performed $8,000 of service on account in 2011, and he collected $6,000 of this amount by year-end. He paid operating expenses of $4,500 and paid a $500 dividend to the stockholders. What is the amount of total assets at the end of 2011? a. $5,500 b. $6,000 c. $10,000 d. $5,000
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