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Coyle Company was founded on Jan. 1st and on Dec. 31st, had the following account...

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Accounting

Coyle Company was founded on Jan. 1st and on Dec. 31st, had the following account balances: Cash $10,000 Revenue $40,000 Accounts Receivable 5,000 Cost of Goods Sold 15,000 Inventory 8,000 Rent Expense 1,500 Equipment 28,500 Advertising Expense 2,000 Accounts Payable 5,000 Common Stock 29,500 Notes Payable 12,000 Dividends 5,000 What was the companys net income for the year

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