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The accounts of Garfield Company with the increases or decreases that occurred during the past year are as follows: Except for net income, an investment of $3,000 by the owner, and a withdrawal of $11,000 by the owner, no other items affected the owner's capital account. Using the balance sheet equation, compute net income for the past year.
CO
Carbon monoxide, a colorless, odorless gas formed by incomplete combustion of carbon-containing materials, toxic to humans and animals when inhaled.
Carboxyhemoglobin
A complex formed by the binding of carbon monoxide to hemoglobin, which can impede the blood's ability to transport oxygen.
Hemoglobin
A protein in red blood cells that carries oxygen from the lungs to the rest of the body and returns carbon dioxide to be exhaled.
Oxygen
A chemical element (O) that is a highly reactive nonmetal, essential for most forms of life on Earth, and a key component of the atmosphere.
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