Net income or loss
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Assistance with calculating net income or loss
Liabilities 320,000, decreased by 18,000, assets increased by 65,000, paid in capital increased from 30,000 to 192,000, dividends paid and declared 25,000 with a total year end of 429,000
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Solution Summary
The solution shows all the steps for how to calculate the amount of net income or loss in the given accounting problem.
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Using the equation
Total assets = Total liabilities + Equity
Assets increased 65,000 and liabilities ...
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