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Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 14 00:10.30 1) issued stock

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Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 14 00:10.30 1) issued stock for $44,000 2) borrowed $27.000 from its bank 3) provided consulting services for $43,000 cash 4) pald back $17.000 of the bank loan 5) pald rent expense for $10,000 6) purchased equipment for $14.000 cash 7) paid $3.200 dividends to stockholders 8) paid employees salaries of $23.000 What is Yowell's net income for Year 1

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