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    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 Preview

    Using the equation
    Total assets = Total liabilities + Equity
    Assets increased 65,000 and liabilities ...

    Solution Summary

    The solution shows all the steps for how to calculate the amount of net income or loss in the given accounting problem.