The Following Are All of the Accounts of Flaherty Company

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The following are all of the accounts of Flaherty Company that have a balance at the end of August. All accounts have normal balances: The following are all of the accounts of Flaherty Company that have a balance at the end of August. All accounts have normal balances: a. Calculate net income. b. Determine the amount of owner's equity to be shown on the August 31 balance sheet. a. Calculate net income.
b. Determine the amount of owner's equity to be shown on the August 31 balance sheet.

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