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What was the amount of net income

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Question - Cherwood Co. reported the following asset and liability balances at the end of 2020 and 2021:

 

2020

2021

Total Assets

$6,000,000

$6,800,000

Total Liabilities

$3,340,000

$3,760,000

During 2021, cash dividends of $86,000 were declared and paid, and common stock was issued for $92,000. What was the amount of net income for 2021?

Reference no: EM133174407

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