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Answer | ||
Net income = Revenue-Expense |
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(162,400+54520 )-174000 | ||
Net income = $ 42,920 | ||
Balance sheet: | ||
(as on december 31, 2019) | ||
Assets | ||
Cash | $ 23,200 | |
Supplies | $ 2,900 | |
Equipment | $ 122,380 | |
Total Assets | $ 148,480 | |
Liabilities and stockholder's equity | ||
Current liabilities | ||
Account payable | $ 12,760 | |
Notes payable | $ 69,600 | |
Total liabilities | $ 82,360 | |
Stockholder's equity | ||
Common Stock | $ 23,200 | |
Retained earnings | $ 42,920 | |
Total Stockholder's equity | $ 66,120 | |
Total liabilities and stockholder's equity | $ 148,480 |
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