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Exhibit 2-1 Refer to Exhibit 2-1

question 2

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Exhibit 2-1  Total Linbilities  Total Assets $60,000$100,000 Begiming of the year $325,000$500,000 End of the year \begin{array}{lll}\text { Total Linbilities } & \text { Total Assets } & \\\$ 60,000 & \$ 100,000 & \text { Begiming of the year } \\\$ 325,000 & \$ 500,000 & \text { End of the year }\end{array} Refer to Exhibit 2-1. What is net income, assuming $50,000 of stock was issued and $25,000 of dividends were paid?

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