=+At the end ofOctober, the first month of operations, the following selected data were taken from the
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=+At the end ofOctober, the first month of operations, the following selected data were taken from the financial statements ofMichael Han, Attorney-at-Law, PC.
Net income for October $240,000 Total assets at October 31 750,000 Total liabilities at October 31 250,000 Total stockholders’ equity at October 31 500,000 (continued)
118 Chapter 3
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