Abc company started the year with total assets of 70000 and, Ask an Expert

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ABC Company started the year with total assets of $70,000 and total liabilities of $50,000. During the year the business recorded $150,000 in sales, $85,000 in expenses, and dividends of $10,000. The net income reported by ABC Company for the year was: *

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Financial Accounting, Accounting

Category:- Financial Accounting
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