Jerry's Butcher Shop, Inc If Jerry Invested an Additional $12,000 in the Business During

question 144

Essay

Jerry's Butcher Shop, Inc. had the following assets and liabilities at the beginning and end of the current year:
$\begin{array}{llcc} & \text { Assets} &\text { Liabilities }\\ \text { Beginning of the year ............ } &\$114,000& \$68,000\\ \text { End of the year ......................} &135,000&73,000\\\end{array}$

If Jerry invested an additional $12,000 in the business during the year, but withdrew no assets during the year, what was the amount of net income earned by Jerry's Butcher Shop, Inc.?

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