Question: Additional information regarding 2 0 2 4 : Net income was $ 6 5 , 0 0 0 . Depreciation expense was $ 2 3

Additional information regarding 2024:
Net income was $65,000.
Depreciation expense was $23,000.
Payments made to the bank pertaining to the bank loan were $10,000. The company obtained some new bank loans during
the year.
Common shares were issued during the year and the company did not buy back any shares.
During the year, the company did not sell any furniture.
Additional information regarding 2024: Net income was $65,000. Depreciation expense was

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