Question: ( 3 ) . what was the net income / loss for 2009 ? $58, 000 ( assets) = $35, 000 ( liabilities ) +

( 3 ) . what was the net income / loss for 2009 ? $58, 000 ( assets) = $35, 000 ( liabilities ) + $ 23, 000 ( equity") $ 23, 000 ( equity ) = $12, 000 ( investments ) + $1 1 , 000 ( retain earnings ) $1 1, 000 ( retain earnings ) = $ 29, 000 ( cumulative earnings ) +* ( Net Income / Loss ) - $10, 000 ( withdraws)

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