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Business, 16.04.2020 01:48 kiekie1986

The changes in account balances for Elder Company for 2021 are as follows:

Assets $ 495,000 debit

Common stock 245,000 credit

Liabilities 154,000 credit

Paid-in capital—excess of par 27,000 credit

Assuming the only changes in retained earnings in 2021 were for net income and a $63,000 dividend, what was net income for 2021?

a.$96,000.

b.$136,000.

c.$69,000.

d.$132,000.

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The changes in account balances for Elder Company for 2021 are as follows:

Assets $ 495...
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