Question: PLEASE SHOW YOUR WORK Johns small therapy practice started the year with total assets of $60,000 and total liabilities of $40,000. During the year the

PLEASE SHOW YOUR WORK

Johns small therapy practice started the year with total assets of $60,000 and total liabilities of $40,000. During the year the business recorded $100,000 in revenues from therapy sessions, $55,000 in expenses, and dividends of $10,000. What is the net income reported by Johns small therapy practice for the year was what?

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