Calculation of net income from the change in stockholders

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Calculation of net income from the change in stockholders' equity.

Presented below is certain information pertaining to Edson Company.

Assets, January 1

$240,000

Assets, December 31

230,000

Liabilities, January 1

150,000

Common stock, December 31

80,000

Retained earnings, December 31

31,000

Common stock sold during the year

10,000

Dividends declared during the year

13,000

Compute the net income for the year.

Reference no: EM13356189

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