What would the net income/loss be for the year using the following information? Please explain...
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Accounting
What would the net income/loss be for the year using the following information? Please explain your calculations used to get your numbers.
Jan. 1, 2017 total assets $150,000
Dec.31, 2017 total assets 175,000
Jan. 1, 2017 total liabilities 35,000
Dec. 31, 2017 total liabilities 145,000
Dividends declared and paid for year 25,000
Common Stock Sold during year 10,000
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