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Calculate dynamic net income for the year

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Question - Dynamic Production Services started the year with total assets of $80,000 and total liabilities of $55,000. The company is a sole proprietorship. The revenues and the expenses for the year amounted to $140,000 and $90,000, respectively. During the year, there were no new capital contributions and the owner withdrew $55,000. Calculate Dynamic's net income for the year.

Reference no: EM132752718

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