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Question - Sawyer Company's comparative Balance Sheet at December 31, 2020 reports the following (in millions).
year 2020
year 2019
Total Assets
60
45
Total Liabilities
25
20
During 2020 Sawyer Company paid dividends in the amount of $7million and issued $15million of common stock. Calculate the amount of net income (loss) that Sawyer Company should report in its 2020 income statement?
a. 13 million net loss
b. 17 million net income
c. 2 million net loss
d. 2 million net income
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