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Stosch Company's Balance Sheet Reported Assets of $40,000,liabilities of $15,000

question 100

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Stosch Company's balance sheet reported assets of $40,000,liabilities of $15,000 and common stock of $12,000 as of December 31,2015.If Retained Earnings on the December 31,2016 balance sheet is $18,000 and Stosch paid a $14,000 dividend during 2016,then the amount of net income for 2016 was which of the following?

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