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What was the amount of net income for 2011

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Reference no: EM13511954

Assume that as of January 1, 2011, Hamlet Consulting has total assets of $800,000 and total liabilities of $300,000. As of December 31, 2011, Hamlet has total liabilities of $350,000 and total stockholders' equity of $690,000.

(a) What was Hamlet's stockholders' equity as of December 31, 2010?

(b) Assume that Hamlet did not pay any dividends during 2011. What was the amount of net income for 2011?

Reference no: EM13511954

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