Johnson Mechanics started the year with total assets of $250,000 and total liabilities of $180,000. During the
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Johnson Mechanics started the year with total assets of $250,000 and total liabilities of $180,000. During the year, the business recorded $415,000 in revenues, $265,000 in expenses, and dividends of $45,000. What is the net income reported by Johnson Mechanics for the year?
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Related Book For 
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
Posted Date:
