Define what was the net income for the year

Reference no: EM132081106

Question: The transactions carried out by Coconut Corporation during the year caused an increase in total assets of $50,000 and a decrease in total liabilities of $20,000.

If no additional investment was made by the investors during the year and dividends of $14,000 were paid, what was the net income for the year?

Reference no: EM132081106

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