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What the amount of net income or net loss for the period was

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Problem 1: If beginning capital was $25,000, ending capital is $37,000, and the owner's withdrawals were $23,000, the amount of net income or net loss for the period was:

a. net loss of $35,000

b. net income of $35,000

c. net income of $14,000

d. net loss of $14,000 e. none of the options listed

Reference no: EM132948915

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