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As of December 31, 2018, Brookshire Company Had Assets of $925,000

Question 71

Multiple Choice

As of December 31, 2018, Brookshire Company had assets of $925,000 and liabilities of $285,000. During 2019, the stockholders invested an additional $50,000 and paid dividends of $30,000 from the business.
What is the net income for the company during 2019, assuming that as of December 31, 2019, assets were $980,000, and liabilities were $255,000?


A) $ 85,000
B) $ 65,000
C) $105,000
D) $ 20,000

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