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Kilgore Company experienced the following events during its first accounting period. (1) Issued common stock...

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Accounting

Kilgore Company experienced the following events during its first accounting period. (1) Issued common stock for $6,900 cash. (2) Earned $4,900 of cash revenue. (3) Paid $5,900 cash to purchase land. (4) Paid cash dividends amounting to $495. (5) Paid $2,390 of cash expenses. Based on this information the amount of net income is

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