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Use the following appropriate amounts to calculate net income: Revenues, $10,700; Liabilities, $4,500; Expenses, $3,800; Assets,...

Use the following appropriate amounts to calculate net income: Revenues, $10,700; Liabilities, $4,500; Expenses, $3,800; Assets, $17,500; Dividends, $1,300.

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Answer #1

Net income

= Revenues - Expenses

= 10,700 - 3,800

= 6,900

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