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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