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What was the owners equity at the end of year

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Question - Blue Sky, Inc. had a balance of $400 000 in owners' equity at the end of last year (i.e. 31 December). During this year, the entity recorded a net profit of $100 000, drawings of $60 000, and borrowed $20 000. What was the owners' equity at the end of this year as at 31 December?

Reference no: EM132664598

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