The changes in account balances for elder company for 2011

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The changes in account balances for Elder Company for 2011 are as follows: Assets $488,000 debit Common stock 236,000 credit Liabilities 141,000 credit Paid-in capital - excess of par 19,000 credit Assuming the only changes in retained earnings in 2011 were for net income and a $56,000 dividend, what was net income for 2011?

Reference no: EM13612541

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