Question: What is the calculation for this? Dynamic Production Services started the year with total assets of$120,000 and total liabilities of$55,000. The revenues and the expenses

What is the calculation for this?

Dynamic Production Services started the year with total assets of$120,000 and total liabilities of$55,000. The revenues and the expenses for the year amounted to$100,000 and$80,000, respectively. During theyear, the company did not issue any commonstock, but it distributed dividends of$50,000. CalculateDynamic's net income for the year.

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