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Jerry's Butcher Shop Had the Following Assets and Liabilities at the Beginning

question 143

Essay

Jerry's Butcher Shop had the following assets and liabilities at the beginning and end of the current year:
Assets Liabilities
Beginning of the year $114,000 $68,000
End of the year 135,000 73,000
If there were no stockholder investments in the business but the company paid $5,000 in dividends during the year, what was the amount of net income earned by Jerry's Butcher Shop?


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