Team Shirts,Inc.had the following balances on its balance sheet: 
During 2012,Team Shirts issued $20,000 of new stock and paid $10,000 of dividends.The amount of net income for 2012 was ________.
Definitions:
Monthly Periodic Rate
The APR divided by 12; the rate of interest charged each month.
Finance Charge
The interest that is charged to a buyer when paying for a purchase or service over time.
Finance Charges
The total cost of borrowing, including interest and other fees, charged on credit accounts or loans.
Periodic Rate
The Periodic Rate is the interest rate applied to a loan or savings account for a specific period, crucial in calculating the interest over that timeframe.
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