What was the net income for the year

Reference no: EM13665208

A business had total liabilities of $60,000 at the beginning of the year and $45,000 at year-end. At year-end, net assets were $80,000 and total assets were $25,000 greater than at the beginning of the year. If capital contributed exceeded capital withdrawn by $18,000, what was the net income for the year?

Reference no: EM13665208

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