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Which the amount of net income for year two was

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Problem 1: Stosch Company's balance sheet reported assets of $112,000, liabilities of $29,000 and common stock of $26,000 as of December 31, Year 1. If Retained Earnings on the balance sheet as of December 31, Year 2, amount to $74,000 and Stosch paid a $28,000 dividend during Year 2, then the amount of net income for Year 2 was which of the following?

A. $45,000
B. $57,000
C. $17,000
D. $28,000

Reference no: EM132954428

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