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Problem 1-4A Preparing a statement of owners equity LO P2 As of December 31, 2017, Armani Companys financial records show t

Just need help with the net income portion. Please and thank you!

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Answer #1

Net income=Consulting revenue+Rental revenue-Salaries expense-Rent expense-Selling and administrative expense

=(35000+24000-21000-13000-9000)

which is equal to

=$16000

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