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How much was net income for smt inc

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Reference no: EM133011406

Problem 1: SMT Inc. experienced an increase in total assets of $2,000 during the current year. During the same year, total liabilities decreased $6,000. If dividends for the year were $10,000 and the owners made no additional investment, how much was net income?

A. $14,000
B. $6,000
C. $18,000
D. $2,000

Reference no: EM133011406

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