Solved: Retail stores of georgia experienced an increase in total, Accounting Basics

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Retail stores of georgia experienced an increase in total

Problem

Retail Stores of Georgia experienced an increase in total assets of $14,000 during the current year. During the same time period, total liabilities increased $2,000. Shareholders made no investments during the year and not dividends were paid. How much was Retail's net income?

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Accounting Basics: Retail stores of georgia experienced an increase in total

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Accounting Basics: Retail stores of georgia experienced an increase in total

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