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Q1) Given below is certain information pertaining to Edson Company.

Assets, January 1
$240,000
Assets, December 31
230,000
Liabilities, January 1
150,000
Common stock, December 31
80,000
Retained earnings, December 31
31,000
Common stock sold during the year
10,000
Dividends declared during the year
13,000

find out net income for year.

Accounting Basics, Accounting

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