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Calculate the profit of a company for a year

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Reference no: EM132855033

Question - Calculate the profit of a company for a year given that:

- assets went up by $33 400 (part of this increase was the result of land being re-valued upwards by $20 000)

- liabilities went down by $15 700

- shareholders contributed $5 000 in new capital

- dividends distributed to shareholders amounted to $7 500 (these dividends were declared and paid in the current year)

- debt of $12 000 was reduced by an exchange for an equivalent amount of ownership capital.

Reference no: EM132855033

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