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Annie's Attic has the following account balances for the dates given:
Its net income for September 1 through September 31 was $20,000 and there were no investments by the owners or dividends paid. Determine the equity at both September 1 and September 30.
Net Income
The remaining profit for a company after removing all costs and tax obligations from the overall revenue.
Insignificant Influence
A situation where an investor does not have significant control or influence over the operations and management of a company in which they hold an investment.
Stock Investments
Shares of ownership in a company or a financial asset, representing a claim on its earnings and assets.
Insignificant Influence
A financial accounting term used to describe an investor's inability to exert control or significant influence over the operating and financial policies of another company.
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