Stosch Company's balance sheet reported assets of $57,000, liabilities of $18,000 and common stock of...
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Accounting
Stosch Company's balance sheet reported assets of $57,000, liabilities of $18,000 and common stock of $15,000 as of December 31, Year 1. If Retained Earnings on the balance sheet as of December 31, Year 2, amount to $30,000 and Stosch paid a $17,000 dividend during Year 2, then the amount of net income for Year 2 was which of the following?
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