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What was the amount of the? owner withdrawals

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Reference no: EM132911269

Problem 1: The net income of Edwards Corporation amounted to? $65,000 for this year. The beginning balance of? owner's equity was? $20,000 and the ending balance was? $80,000. The company received no new contributions during the year. What was the amount of the? owner's withdrawals during the? year?

Option 1: $5,000
Option 2: $25,000
Option 3: $125,000
Option 4: $35,000

Reference no: EM132911269

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