Amount of net income or net loss

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Reference no: EM13135556

If beginning capital was $70,000, ending capital is $48,000, and the owner's withdrawals were $21,000, the amount of net income or net loss was:

a) net income of $42,000

b) net income of $17,000

c) net loss of $22,000

d) net loss of $1,000

Reference no: EM13135556

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