Calculate the net income for tulsa corporation
Course:- Business Economics
Reference No.:- EM132281481

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Question: Use the following information to calculate the net income for Tulsa Corporation.

At the end of last year, Tulsa had total assets of $100,000, total liabilities of $65,000, and total stockholders' equity of $35,000. Assets increased $20,000 and the company added $7,000 in debt during the year.

The only equity account that changed was retained earnings and no dividends were paid.

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