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Question 7 1 pts On December 31 of year 1, Acme Company had assets of $151,886, liabilities of $95,623, and capital stock of





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Please refer to below spreadsheet for calculation and answer. Cell reference also provided.

в с Year-1 Assets $151,886 Liabilities Capital stock Retained Earnings $95,623 $29,852 $26,411 Year-2 Revenue Expenses Net In

Cell reference -

E25 B Year-1 Assets 151886 Liabilities Capital stock Retained Earnings 95623 29852 =C3-C5-C6 Year-2 Revenue Expenses Net Inco

Hope this will help, please do comment if you need any further explanation. Your feedback would be highly appreciated.

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