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  3. at the beginning of year 2, oak consulting had the

At the beginning of Year 2, Oak Consulting had the following normal...

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Accounting

At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 27,000 Accounts receivable 18,400 Accounts payable 14,700 Common stock 16,900 Retained earnings 14,600 The following events apply to Oak Consulting for Year 2: Provided $72,900 of services on account. Incurred $2,900 of operating expenses on account. Collected $50,900 of accounts receivable. Paid $39,700 cash for salaries expense. Paid $15,840 cash as a partial payment on accounts payable. Paid a $9,000 cash dividend to the stockholders.
What is the amount of NET INCOME for the year??

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