Homework Answers
1. Net income= $ 4,200
2. Stockholder's equity = $ 19,000
Explanation
1. Net income = Revenues - Expenses
= 12,400 - 8,200
= $ 4,200
2. Stockholder's equity = Assets - Liabilities
= 42,000 -23,000
= $ 19,000
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[The following information applies to the questions
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