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The following information relates to Peter Company (in thousands): Additional investment by Mr. Peter $...

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Accounting

The following information relates to Peter Company (in thousands):

Additional investment by Mr. Peter $ 15 Sales revenue 150 Net assets, beginning of year 1, 100 Distribution to Mr. Peter 110 Cost of goods sold 125 Net assets, end of year 1, 180

Required:

Compute net income, using the capital maintenance approach.

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