Question: During 2010, Chen Company generated a $ 56,000 net income. Using this information, determine the adjusted net income: A. Equipment was sold during the period

During 2010, Chen Company generated a $ 56,000 net income. Using this information, determine the adjusted net income:
A. Equipment was sold during the period at a loss of $ 5,000.
B. Trading securities (not cash equivalents) were sold during the period at a gain of $ 2,400.
C. Patent amortization expense was $ 1,800 for the period.

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