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Arizona Company has the following information available for the month of April:
Sales $100,000
Cost of goods sold $60,000
Interest expense $2,000
Income tax expense $1,000
Wages expense $12,000
Dividends declared $3,000
Equipment purchased $20,000
Rent expense $4,000
The company uses the accrual basis of accounting. What is the net income for the month of April?
A) $21,000
B) $22,000
C) $24,000
D) $27,000
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