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QUESTION
Team Shirts, Inc. had the following balances on its balance sheet: December 31, 2011 Assets: $500,000 Liabilities: $300,000. December 31, 2012,...
Team Shirts, Inc. had the following balances on its balance sheet: December 31, 2011 Assets: $500,000 Liabilities: $300,000. December 31, 2012, Assets:$700,000 Liabilities:$400,000. During 2012, Team Shirts issued $20,000 of new stock and paid $10,000 of dividends. The amount of net income for 2012 was ________. The answer is 90,000, but I got 290,000. Where did i mess up?
