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Your Corporation started a consulting business on January 1, 2019 by issuing $7,000 of common stock. What was net income for the year given the
Your Corporation started a consulting business on January 1, 2019 by issuing $7,000 of common stock. What was net income for the year given the following events? Provided services on account, $25,000. Incurred $12,000 of operating expense on account. Purchased $7,000 of supplies. Paid $5,000 of its accounts payable. Collected $9,000 of the revenue that was previously recorded on account. Performed $11,000 of work for cash. Recognized $4,000 of supplies expense. Paid a cash dividend of $2,000 to the stockholders. $20,000 $24,000 $33,000 $22,000 $19,000
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