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What was amount of net income earned by jerry butcher shop

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Jerry's Butcher Shop had the following assets and liabilities at the beginning and end of the current year:

                                                      Assets                   Liabilities

Beginning of the year                       $114,000                  $68,000

End of the year                                135,000                     73,000

Question 1: If Jerry made no investments in the business but withdrew $5,000 during the year, what was the amount of net income earned by Jerry's Butcher Shop?

Reference no: EM132494620

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