As of the end of its acct peri

timer Asked: Dec 12th, 2015

Question description

As of the end of its acct period, Dec 31st year 1, Great Company has assets of $940000 and liabilities of $300000.  During year 2 stockholders invested an additional $73000 and received $33000 in dividends form the business.  What is the amount of net income during year 2 assuming that as of Dec 31 year 2 assets were $995000 and liabilities were $270000?

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