VINCENT, Inc. had $1,500,000 in owner's equity at the beginning of 2017.At the beginning of 2017, VINCENT, Inc. had 100,000 outstanding shares of stock. During the year, VINCENT sold 10,000 additional shares for $10 each. VINCENT declared and paid dividends of $2 a share at year end to all shareholders on December 31, 2017.How much was VINCENT'S net income for 2017? VINCENT ended the year with owner's equity of $1,700,000.

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