The company had the following total asset and total liability balances at the beginning and the end
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..............................................................................Beginning .............. Ending
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $365,000 ............... $625,000
Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 230,000 ................. 280,000
During the year, the company received $100,000 in new investment funds contributed by the owners. Using the financial capital maintenance concept, determine the company's income for the year?
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