Question: Below are the net changes for the year in all of a companys balance sheet accounts, except for retained earnings. Accounts payable 5,000 in crease
Below are the net changes for the year in all of a companys balance sheet accounts, except for retained earnings.
| Accounts payable | 5,000 increase |
| Accounts receivable | 50,000 decrease |
| Additional paid-in capital | 5,000 increase |
| Cash | 80,000 increase |
| Common stock | 10,000 increase |
| Equipment | 10,000 decrease |
| Inventory | 20,000 increase |
| Long-term liabilities | 15,000 decrease |
| Salaries payable | 3,000 decrease |
If the company paid $2,000 in dividends for the year, what is net income?
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