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Problem
Fiji, Inc. started 2014 with $12,000 in assets and $2,500 in liabilities. Fiji had issued 50 shares of stock when it went into business in 2010 for $10 per share, and no stock has been issued since that time. At December 31, 2014, Fiji had $23,000 in assets and $4,000 in liabilities. How much was Fiji's net income during 2014 if the company paid $1,000 in dividends during the year?
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