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Presented below is selected information related to Broadway Company at December 31, 2010. Broadway reports financial information monthly.
(a) Determine the total assets of Broadway Company at December 31, 2010.
(b) Determine the net income that Broadway Company reported for December 2010.
(c) Determine the owner's equity of Broadway Company at December 31,2010.
The following answer needs to be 300 words: What is a stock redemption? What are some reasons for redeeming stock? Why are some redemption treated as sales and others as dividends?
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