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Current Attempt in Progress Blossoms Electronic Repair Shop started the year with total assets of $301000 and total liabilit
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Answer #1

Formula for calculation of Net Income = Electronic Repair Revenue - Electronic Repair Expense

Electronic Repair Revenues = $ 512,000

Electronic Repairs Expenses = $ 314,000

Net Income = 512,000 - 314,000

Net Income for Blossom Electronic Repair Shop = $ 198,000

Option D ($ 198,000) is the correct answer for the problem.

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