Question: Net income . . . . . . . . . . . . . . . . . . . . $ ? Cost

Net income . . . . . . . . . . . . . . . . . . . . $ ?


Cost of goods sold . . . . . . . . . . . . . . $50,000 


Payment of dividends . . . . . . . . . .   $3,000 


Other operating expenses . . . . . . . . $12,000 


Proceeds from issuance of stock . . . $78,000 


Depreciation expense . . . . . . . . . . . . $17,000 


Purchase of treasury stock . . . . . . . . $11,000


Purchase of equipment with cash . . $23,000 


Sales revenue . . . . . . . . . . . . . . . . . . $122,000 


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